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techcharter

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techcharter

Re: None

Friday, 07/08/2011 2:10:24 PM

Friday, July 08, 2011 2:10:24 PM

Post# of 51804
TNX Head Fake

The yield on the 10 yr US treasury ($TNX) fell 4% today on HUGE flight to safety. The e-waves have another story brewing. The yield rally off the 24 June 2011 low was impulsive. The falling yield from the 1 July 2011 top can be counted as zigzag.

http://stockcharts.com/h-sc/ui?s=$TNX&p=D&yr=2&mn=6&dy=0&id=p60455983873


The larger picture for the price of the 10 year US Treasury ($UST)
shows an ending diagonal advance out of the February 2011 lows. This is a nearly completed pattern. A less bearish view is wave b triangle is completing and wave c unfolds before a rally to new highs.

http://stockcharts.com/h-sc/ui?s=$UST&p=D&yr=2&mn=6&dy=0&id=p65888293611

The flight to quality may already have arrived and unloaded.
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