Because the Fed struck fear in to the credit markets last Friday, I maintained that rates were not going to spike. Why?
The charts I looked at had digested the Fed-Speak and didn't show much conviction.
This is a 30 minute chart for-TNX.
You can see that rates have fallen. Here is what I see on this chart:
1. Rates are coming back from a news induced event.
2. jaws now feeding in down-trend.
3. (under chart) (this indicates a trend or choppy action) is below the 38.2 shaded area, indicating a trending asset , which is trending DOWN.
4. Phase energy (lower top indicator) is heading lower (multiple consecutive red bars and the action is BELOW the zero line).
5. Momentum (middle top indicator) is the 5/34 measure, and this is heading sideways to DOWN.
6. Prices are trading into the .
7. Prices are trading below the thick red conversion line.
8. Prices are trading below the Ki jun-Sen baseline of the .
So, believe it or not, the sky is not falling. Not yet, any way. Good luck to you. Don.