8-8-24 Market Exuberance Reverses

The market correction didn't start on Monday; it actually started in July at the markets' peak. Then markets began to steadily sell off until tapping the 20-DMA, and that's when markets fell sharply, as the unwinding of the Yen carry trade began to really happen. On Wednesday the market rallied right into the 100-DMA, and trapped-longs sold off with markets ending at their lows for the day. Sellers are now getting exhausted and sentiment is turning more bearish, which is what markets needed. Today: Pay attention to Bond prices (not yields); we expect them to move back to support a cluster of moving averages at about 4.1% on the Ten-year Treasury. Bonds are not quite oversold yet, so no entry point on bonds just yet. As the Fed begins to cut rates, that will exert downward pressure on yields, pushing bond prices higher. That's not going to happen overnight, however.   Hosted by RIA Chief Investment Strategist, Lance Roberts, CIO  Produced by Brent Clanton, Executive Producer ------- Watch the video version of this podcast: https://www.youtube.com/watch?v=NhhxNaLDDaA&list=PLwNgo56zE4RAbkqxgdj-8GOvjZTp9_Zlz&index=1 ------- Get more info & commentary:  https://realinvestmentadvice.com/insights/real-investment-daily/ ------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #MarketExuberance #ExuberanceReversal #InvestorSentiment #MarketBounce #MarketCorrection #Resistance #TrappedLongs #CarryTrade #MarginCalls #JapaneseYen #USDollar #MarketCaution #2024Election #InvestorCaution #NASDAQ #NASDAQcorrection #100DMA #20DMA #50DMA #Retest #SupportLevel #BondYields #BondPrices #FederalReserve #RateCuts #MarketBullishness #MarketCorrection #InvestingAdvice #Money #Investing