That is a wild guess, a parallel line to the top of the range. From what Edwards McGee wrote, corrective waves are always narrower channels. Since these are yields then they are inverse of the actual instrument that is being traded (bond prices). So this uptrend in yields is a corrective wave in bond prices. That is a assumption I'm going off of. Beside it would be where I would consider selling bonds. I'm looking to start buying around 5.25, 5.50 on yields.
I could also say that that small support line between 2003 and 2008 could be the true trend in yields and creating a parallel line to it would give us a much faster trend that would hit 6.5 before 2009. That is the risk we have to consider. Still that is more long term thinking. I'm looking for a bounce this year. Lock in those ARMs people. Its going to get bumpy if you don't
.
Market Data 
Markets 
AI
