The 10 Year Treasury Note Yield's Elliott Wave Count, refer to the five year candlestick chart at http://finance.yahoo.com/q/ta?s=^TNX&t=5y&l=off&z=l&q=c&p=v&a=fs,fs,fs,w14&c=.
From mid 2007 until very late 2008 the 10 Year Treasury Note's yield did a down up down Wave A Elliott Wave Major Downcycle (also did an Elliott Wave down up down up down pattern), that's also probably Waves 1 down, 2 up, and 3 down, of the Cyclical Bear Market (in yield) since mid 2007.
From very late 2008 to June 2009/April 2010's bearish double top the 10 Year Treasury Note's yield did an Elliott Wave up down up down up Major Upcycle, that's probably/appears to be the counter trend Wave B and Wave 4 up of the Cyclical Bear Market (in yield) since mid 2007, which means that the 10 Year Treasury Note's yield is now probably in a huge Wave C and Wave 5 Downcycle since April 2010, which is very important, because, it's a very good SPX (S & P 500, http://bit.ly/i0nsT)/market lead indicator, see the six month 10 Year Treasury yield vs SPX Lead Indicator at http://yhoo.it/bYZcbZ.
This means that SPX (S & P 500, http://bit.ly/i0nsT)/market is probably heading much lower the next year or so.
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