SPX Tests New Resistance, 10YR-3MO Treasury Spread's Impact on Price Action

Schwab Network

6,050 proved to be a wall for the SPX at the opening bell with the index pulling back from highs seen in the futures. Kevin Green analyzes the options activity surrounding the level and talks about why resistance is so strong. However, he adds that we likely won't see new lows due to the resurgence of market strength. One point of concern may come from the 10YR-3MO treasury spread, as Kevin points out its move can be bearish or bullish depending on the narrative it moves on.

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