A 76.4% retrace of the prior five wave advance, which unfolded in a complex WXY pattern, points at a high likelihood that 128.76 is exceeded intermediate term. Also note that the prior descending channel , is most definitely broken at this point.
Those married to news are worried about a rate hike, but the chart seems to say that treasuries will trade higher.
I'm totally agree with you & the chart $TLT. There is no way the fed can raise rate unless they want to test to see if gasoline works well with the fire or not, then they can try it and we'll see how it burns down. Most economic indicators are bad. Except these voodoo job numbers from Washington, they are still bad anyway. I see long term bond price head much higher as we go through major deflation. Many QEs will announce ahead, then real inflation picks up.The market forces the fed to raise rate because the inflation is out of control. But only if they succeed inflate the economy. We had 3 QEs in the past. None of them couldn't get us inflation into economy