T Notes- 2.855%
Thus, you Apollonian form lovers can keep shouting , while I say embrace the wine god and pour yourself a glass to see order in the chaos.
Moving on, we can see the drawn yesterday has now been tested briefly three times, only to retrace back upwards each time, a clear indicator that its formed some sort of support for the short term movement of the market. Because the market has moved clearly in sync with yield rates, most attempt to be predictive in the short term should take into account what the yield rates on the 10 year are while looking at the movement, however I've drawn the blue lines as a potential formation of a , as the highs are falling more steeply than the lows. If this does come to form and the bulls come out, we should recognize this does not mean the correction is complete, as the market needs to break this before that sentiment can bear (pun intended) any weight. My gut says because the 100 day MA has not been such a strong support, its within reason even if the is confirmed to expect a test of the 200 day MA or even the .386 retracement point perhaps not immediately, but over the short to medium term. This expectation I feel is merited by the fact the market has not found much if any legs at all when rates have gotten above 2.85-2.86% point where it currently is now.
*This has been another PSA from your big friendly neophytic DOW Grizzly welcoming you to recognize before closing I am no expert and this is not financial advice..but also daring you to tell me how this is wrong!*