I prefer to watch the price of 10 year treasury bonds. Below is an indicator adapted from Ned Davis Research. When six month rate of change is positive, it's bullish for stocks( the higher the momentum, the larger gain per annum for stocks. I've also noticed that when 10 year t-bonds are also above their long term smoothing, that's also bullish.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.