Tough to trust SPX bounce with $TNX making new 2022 highs

Ahead of this week’s Fed meeting, Monday’s minor relief rally took prices right back to areas of September’s breakdown, which at $SPY-389 is thought to be quite important resistance.  Given that US 10-Year Treasury yields set new daily 2022 closing highs Monday above 3.475% at 3.49%, it’s thought that ongoing negative correlation with US Stock indices likely limits Equity gains heading into one of the worst seasonal stretches of the year. ...
Ahead of this week’s Fed meeting, Monday’s minor relief rally took prices right back to areas of September’s breakdown, which at $SPY-389 is thought to be quite important resistance.  Given that US 10-Year Treasury yields set new daily 2022 closing highs Monday above 3.475% at 3.49%, it’s thought that ongoing negative correlation with US Stock indices likely limits Equity gains heading into one of the worst seasonal stretches of the year. ...
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