S&P500/Interest Rates: 2018 Decline

In addition to the May 13, 2023 near term update, the following 10-Yr Note Non-Commercial Traders net position chart indicates a significant decline in the S&P500 is expected over the coming weeks. This is similar to what occurred between September 25, 2018 and December 24, 2018, as shown in the chart below.

Stock chart courtesy of StockCharts.com.

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