Is this the top in Yields?

Pretty interesting chart here.

The 10year yields have now retraced .618 of the move from the 2018 highs to the Covid 2020 lows.


FOMC is in 2 days - if Powell offers no surprises, I wouldn't be shocked to call this the top in the 10 year for now. IF we start to get a reversal in rates - get long bonds such as $TLT or $ZROZ - and tech might even rally.

Just something to watch!

Comment:

Notice on the weekly, how NQ has a descending wedge and its currently around the 100w SMA as well. It is super far outside its Linear Regression Channel as well.

When you take a look at long term bonds - you can see that it is near a pretty well defined support/resistance zone as well - just something to keep in mind.

Trade active:

The 2 and 10 yr rates are now right around this 40 year trendline. This is a important area to see how rates will respond.

Trade active:

10yr is breaking >40yr Trendline - Does the bond market know something?

Trade closed manually:

See other idea about the bull market in rates.