Home Market News Apple Stock and TLT Bond ETF Show Inflection Points, says BTIG’s Krinsky

Apple Stock and TLT Bond ETF Show Inflection Points, says BTIG’s Krinsky

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Apple Stock and TLT Bond ETF Show Inflection Points, says BTIG’s Krinsky

Financial stock market graph. Selective focus.

Diego Thomazini

Apple’s stock has caught the attention of BTIG technical strategist Jonathan Krinsky as it approaches its 200-day moving average. With a 4.9% decline in the past month, Krinsky advises investors to closely monitor how the stock reacts when it tests this level.

In Friday’s trading, Apple closed at $171.29, 0.4% higher and still above its 200-day moving average of $166.09.

However, Krinsky believes that bond markets hold the key to market sentiment. The iShares 20+ Year Treasury Bond ETF is currently trading over 200% above its average daily volume, indicating a potential inflection point. Krinsky suggests that if the ETF closes back above its recent low of $88.09, it could mark the beginning of a positive trend.

And indeed, the ETF did close higher at $88.68 on Thursday. Despite this increase, TLT is still down 6.9% over the past month.

The movements in the bond market are important indicators for equities as well. Krinsky notes that near-term equity upside is likely dependent on the stabilization of bond markets. BTIG expects the correlation between bonds and stocks to eventually break, with bonds rising and stocks falling, but this shift may not occur until the fourth quarter.