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Showing posts with label ZN. Show all posts
Showing posts with label ZN. Show all posts

Tuesday, May 1, 2012

Elliott Wave Analysis of TBT & ZN (10 year note)

I have been watching ZN (10 yr US note) lately and i suspect its near to a reveral, although these ETFs are not 100% linked, they do follow the underlining markets most of the time.

If a low is in this could be ready to see a strong break higher. Risk is to $18.17, the alternative is this is still going to chop around in wave [iv], although when you look at the 10yr note it really does look like it could be setting up for a reversal.

Having put in a new high this is at the point where a strong break lower could see a sharp reversal if the buyers dont support prices here.

If buyers move out of the 10yr US paper, then where does that $$$ go? back into stocks?