A failure of these markets to hold and snap back at the current level would see a continued rise in momentum and could send them into a much deeper correction territory.
A failure of the following Daily ratio chart of TNX:SPX to rise and hold above what appears to be a fairly critical 0.015 major support level (and possible Head & Shoulders neckline), could send 10-Year Treasury Notes much higher in an investor "flight-to-safety" scenario, if the above 3 Major Indices fail to rally. If the Momentum indicator rises and holds above the zero level on this ratio chart, we may see some stability enter these indices...whereas, a break and hold below its last pivot low could spell trouble for these markets.
These are 4 charts worth monitoring over the coming days/weeks as one gauge of where (and how fast) investor money is flowing.
