This leading diagonal ended as called earlier appears to be making an ABC correction that should end when C = A at 1.75
Then, the longer term upward correction should continue in a third wave, which I think will be a C wave ending this sub-minuet level correction of the larger minute correction of the larger trend.
C should be equal to A as measured from the end...
It isn't surprising to see the collapse in yields. However, what is a big tell and signal is the lack of buying in equities over the same period.
This would mean there is likely a crowding into bonds for the sake of squeezing out the appreciation (not the yield) and not an interest in using the lower yields in the bond market to buy more equities and take on...
The Monthly TNX Chart, the 10 Year US Treasury Bond shown here,
reveals long term interest rates may be close to bottoming,
despite the hysteria going on in the marketplace,
that somehow rates are headed to zero here in the US
Stochastic Monthly Indicator on TNX
is now as deeply oversold as you will see on the chart for the last 7 years,
and looks ready to...
Line Break Close Only Chart of TNX, the 10 Year US Bond,
shows a massive rollover in interest rates beginning in late 2018 from 3.25%,
and continuing after the Fed meeting this past week, with new cycle lows
as the market continues to drive rates lower by the day.
What is going on here ?
Clues to the sharp stock market selloff after the Fed meeting can be seen...
using the monthly 20 MA or weekly 100 MA (~equivalent), we can watch to see where markets unfold.
Prepare to short the breakdown and take profits quick, the re-short at bull trap retest of the MA breakdown.
Long Term Interest Rates continue to plunge today,
with the 10 Year now down to 2.21 %.
Line Break Chart shows current chart support at 2.07,
and much more importantly at the 2 % threshold.
The continued and surprisingly sharp move down in interest rates,
is now having a direct impact on the stock market,
as investors big, and small are selling stocks, and buying...
The question you want to ask yourself this weekend,
lies not with lofty stock price valuations,
but rather with a simple basic understanding of the underlying cost of money.
With a resurgent economy in 2019,
combined with the lowest unemployment in decades,
and highest consumer confidence numbers ever recorded
..then why are long term interest...