DJI

The bond rout and sharp rise in yields continue to take centre stage for sentiment. And the longer this trend persists, the greater the odds appear for indices to finally roll over. Given three key US indices are showing signs of stability around their respective support levels, it brings the potential for a minor bounce over the near-term. But if bond yields keep rising, any such bounce could prove futile for bulls.

The commitment of traders (COT) report shows how large speculators are positioned across futures markets on the CME exchange.

The commitment of traders (COT) report shows how large speculators are positioned across futures markets on the CME exchange.

Disney’s theme parks and resorts continue to power ahead while losses from its streaming services have peaked.

Today we look at the Dow Jones which has seen momentum turn swiftly lower, in line with appetite for risk.

Price action on the DJI (Dow Jones Industrial) and several other markets have flagged the potential for a contrarian setup (favourable for bulls).

US traders are to return to their desks today after a 3-day weekend. And the biggest question we have is whether we can see some sort of relief rally, after the recent drubbing.

We saw a strong finish for global equities last week, and as the Dow Jones was an outperformer during the recent turmoil, we suspect it could outperform during a recovery.