Outlook: Cautiously Bullish
Timeframe: 1 Day
Macro & Rates
- Long-term yields jumped across the curve (5Y–30Y), while short-dated yields continued to decline, reinforcing a bull-steepening regime.
- A steeper curve lowers marginal funding costs and should compress corporate bond spreads over time.
- Treasury is likely to starve the long end of duration, which would be structurally supportive for equities.
- CPI and unemployment data later this week will be decisive for near-term direction.
Technical Outlook
- Price action suggests an upward continuation if resistance is cleared.
- Index is approaching a confluence of pitchfork intersections, often a volatility expansion zone.
- MACD remains bearish but shows signs of incipient reversal.
Key Levels
Support: 6,790.8 │ Resistance: 6,962.2
Investor Takeaway
Equities are being supported by curve dynamics rather than growth. A clean break higher requires confirmation from inflation and labor data.
