US10yr Yield.....time for decisions...

the move higher in US10yr yields seems to have reached our fib target level around 3.17% while breaking the major downtrend (blue line) in place since 1982!. for the last couple of weeks the move has been consolidating/correcting and re-testing said downtrend while holding above it. this could be a textbook case of break and re-test before a continuation towards much higher levels...or could prove to be a false break if it manages to re-establish itself below the downtrend (currently @2.77%). Wave count and technicals still close to extreme levels might suggest at least further consolidation and a possible false break, but breaking that trendline on the way up was not a minor thing. jury is out.

Trade active:

well...the market has spoken. the US10yr yield re-tested the downtrend and has shot higher on a texbook case of breakout of retest described above. Looking for some intermediate targets for this move higher to take a breather in the 3.86%.