Top technician says the market is heading back to new highs if it can hold one key level

Chart suggests stocks are less vulnerable to another steep drop, but Treasury yields are still flashing a warning  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  VIEW IN BROWSER | SUBSCRIBE THU, JUN 06, 2019 WATCH LIVE TUESDAYS AND THURSDAYS 1PM ET SPONSORED BY TODAY'S TRADES 1 Top technician says the market is heading back to new highs if it can hold one key level 2 Trader bets gold is about to hit a fresh 52-week high 3 This major factor is preventing a crude oil breakout THIS WEEK'S TOP STORIES Chart suggests stocks are less vulnerable to another steep drop, but Treasury yields are still flashing a warning J.P. Morgan's Jason Hunter highlights key levels in the charts that suggest stocks may be starting to find solid ground. Bitcoin is becoming a safety trade in this market, says crypto bear Peter Boockvar Mexico tariff threat pushes long-time market bull to reduce exposure to stocks The yield curve is no longer a reliable recession predictor, according to Wells Fargo Securities TRADE UPDATE WHAT SCOTT IS WATCHING 6/6 Lower rates have helped gold since May 23. Now that's translating into a weaker dollar, so gold has shifted into another gear, particularly after it blew through the top of its downward trading channel. UPCOMING GUESTS TUESDAY, JUNE 11 David Stockman, Former OMB Director under Pres. Reagan THURSDAY, JUNE 13 Ed Clissold, Ned Davis Research chief U.S. strategist Suki Cooper, Standard Chartered executive director TWEET THE TRADERS Seema Mody @SEEMACNBC Anthony Grisanti @ANTHONYGRIZ Jim Iuorio @JIMIUORIO Jeff Kilburg @JEFFKILBURG Scott Nations @SCOTTNATIONS Brian Stutland @BRIANSTUTLAND Bob Iaccino @BOB_IACCINO Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel   Digital Products Feedback Privacy Policy CNBC Events   © 2019 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS