It all depends on what the US 10 Year Treasury Yield does. It is currently sitting at 2.962 as of sharing this idea and it just broke up past the previous high on 2/21. If it hits 3 too fast, it could trigger lots of selling. It went up .048 in one day. Another consecutive day like this from where we are now will get us to 3. I'm all cash at the moment and will be...
Rally stalled out after attempting to break up yesterday. Head and Shoulders completed today. I think we will go lower from here for a while. Any thoughts?
Legs 2 and 4 have retraced 50% of legs 1 and 3 respectively and the downward pattern is pausing at each fib retrace level. Given that we are just in the first week of a correction, I think the likelihood of further down side is fairly high. Maybe the 5th leg stretches two fib levels instead of one. Thought I'd share this idea to get some feedback as I plan my next moves.
I feel like I've seen this pattern before on this chart.
It's hard to bet on a continued rise up from here, even with all the tax reform talk and earnings season around the corner. It's been an incredibly good rise. My best guess is that this enters a correction pattern back to main trend line.
This is my first published idea so take it with a grain of...
