US10Y
intraday mapping/analysis.
US yields dip while bonds & stocks rip.
US10Y in clear downtrend with potential bearish H&S pattern developing, TBC.
H&S development would correlate with bonds/stocks pullback before further bullish momentum into EOY.
Left shoulder, head & neckline outlined. Right shoulder parameters:
Prelim target = lower range of ascending parallel channel (light blue) + 50% Fib confluence zone.
Note: break of "neckline" before right should formation negates H&S = express trip to prelim target.
US yields dip while bonds & stocks rip.
US10Y in clear downtrend with potential bearish H&S pattern developing, TBC.
H&S development would correlate with bonds/stocks pullback before further bullish momentum into EOY.
Left shoulder, head & neckline outlined. Right shoulder parameters:
- Rally above ascending 1st trend-line (green dashed)
- Resistance at 200SMA, gap fill, 2nd ascending trend-line (green dashed) + upper range of descending parallel channel (white)
- Price action rolls over to re-test/break neckline & validate pattern
Prelim target = lower range of ascending parallel channel (light blue) + 50% Fib confluence zone.
Note: break of "neckline" before right should formation negates H&S = express trip to prelim target.
If yields rally towards ~4.80-4.85% then it could flush bonds/stock market, presenting opportunities for bullish positioning into EOY when yields ultimately capitulate towards prelim target..
Set alerts & laser focus on lower timeframe for the rollover, TBC..