![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEie_HgWkUN_AKBO_T4lZkhWyhqPON6AVxby3dTIOVORccwSjimPfJNYKGvarq3kdAIMCH7VrDwfXouOYPXDBIC7rTLbPHjv215ay1rcUlmfpQoVP8bELyZ4HaiBFZNz6E1KimLX-zCbZQc/s400/sc.png)
To add credence to the 14SMA support is the 10yr yield. It is near a bottom, and with all the media chatter these past few weeks regarding the low yield (along with today's Goldman note of peaking 10yr), this should be bullish for the market.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEia7SGjUeHWF851cvWAUNwtP_clv5ZeJs0ka-s6wJP9yqGTgCG_VhKB6mEEATyuxPflECuJdpQqvul6eYHKrU8Y1jRs2_jM6IPCxS-ECcnJXTW5YvrVHNuc_uNcdH8PZtPwlx8UJwANy40/s400/sc-1.png)
That does not mean the market can not go lower, but I think the down side is limited (to 1120is), barring a horrible jobs number Friday.
UPDATE 10/05/10: FDIC's Bair indicated there 'may be' a bit of a bond bubble. This plays up the thesis above. She may cause a sell off in bonds and migration in stocks today.
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