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Asset Watch
Thursday, November 17, 2022
So, while inflation and recession fears permeate, the macroeconomic backdrop remains relatively constructive. Additionally, Home Depot’s 20-day moving average created support during the July through August rally, and the U.S. 10-year Treasury yield has been a reliable 2022 indicator.
The black line on the chart tracks the inverted movement of the Treasury benchmark, which means a rising black line equals a lower 10-year interest rate. As yields rose throughout 2022, Home Depot suffered. However, if the black line continues its ascent (interest rates falling), Home Depot’s optimism could persist.
As a result, should you remain long until the 20-day MA breaks?
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