It’s A Long Way Down

Carmax is on the edge.

As we’ll see below, its poised to break lower out of a wedge that’s been forming over the past year (not advice, not a recommendation).

Auto loans along with real estate are tied to bond yields; bond proxy TLT, was down again today with rates going higher.

CarMax KMX, Weekly

Bonds TLT, are currently at support levels so an upside retrace (rates lower) is possible.

If that happens, the important part to watch is how KMX, responds (if it does at all).

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279