Apr. 28 at 6:19 PM
Macro tape check: equities, rates, energy all pulling different strings right now.
👉Click to view @NasdaqPulse for timely updates amid the volatility.
$SPY /
$QQQ still trying to grind higher, but momentum is increasingly sensitive to bond yield moves. Every uptick in real rates = instant de-grossing in high beta.
$TLT remains the key pressure gauge — bonds not confirming a clean risk-on regime yet, which keeps tech rallies fragile.
Meanwhile
$USO and
$XLE are doing the opposite: energy strength is quietly acting like an inflation + growth hedge bid, not just a commodity move.
Net-net: this is a cross-asset tug-of-war, not a one-direction trend.
Tech needs yields to stay contained. Energy needs demand to stay sticky. Bonds are the referee.
Until one wins, expect rotation > trend
