While the market gets distracted by earnings, we are reminded of the big picture.
The US 10YR rising and the lack of any deals being announced will start going back on peoples radar again, when the dust has settled after important ER's.
The US 10 YR tested the 0.618 Fib exactly at 4.1% and now bounced back out of the wedge again and is again sitting on the 200 Day MA now too at 4.2%.
Let's be clear, a higher 10 YR will put the US under pressure and the market, which is in line with the market approaching its 50 WMA and important resistance levels.
Let's not get distracted.