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Challenging Profits (Special Market Update from Charles Green)

Charles Green here, Senior Market Analyst here at Traders Agency.

Here’s today Market Pulse 360.

Market Pulse 360 for October 20, 2023

The 10-year Treasury yield briefly hit 5% late in the day Thursday, and this is kryptonite for the markets. 

The higher it goes up, the more the market will weaken. 5% is a key psychological level that will get a lot of attention and could be the biggest challenge yet to the current market.

We need one of three things to happen to resume the uptrend in the market: 

(1) the 10 year bond yield to go lower, ideally below 3% (the average for past 20 years); 
(2) inflation to move below 3%, closer to the Fed’s 2% target; and, 
(3) the Nasdaq to close above 14,000. With the 10-year bond yield breaking 5%, this changes market dynamics and will affect market psychology.

The market and economy have shown incredible resilience over the past few months, digesting a lot of events that could have caused more damage to technicals, but major support levels held. 

However, the 10-year Treasury yield breaking 5% is the biggest challenge yet.

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A Bit More About Me

My specialty is understanding financial markets and the drivers that influence longer-term direction. I’ve been an active trader focusing primarily on stocks for over 20 years.

I’ve also:

  1. Been an adjunct finance professor for nearly 20 years
  2. Worked as a financial consultant with Merrill Lynch managing millions of dollars 
  3. Earned a Master of Science Degree in International Business and Finance from Georgetown University and a Bachelor in Arts Degree in International Studies from George Mason University.
  4. Spent 14 years as a Marine (I enlisted at age 17) traveling all around the world

My education, work and life experience gives me a broad view of the world, financial markets, and life in general that informs my trading and investment decisions. 

My passion is helping others to take advantage of the best market opportunities to achieve their financial goals.  

This gives me the greatest satisfaction, and it’s the reason why I continue to teach in the classroom and outside of it today with every activity in which I engage. I believe that I succeed only if clients succeed.  

I am a very unlikely success story. And this is only because I believe that anything is possible with the right knowledge, focus, and winning mentality! When you have that, success is just a matter of time.  

Charles Green
Senior Market Analyst, Traders Agency

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