10 Year Yield--Wednesday, July 14, 2010
Playing around with some Fibonacci patterns on a weekly 10 Year Yield chart.
First, a pattern noticed during the impulsive move from March to June of 2009:
An alpha-beta base formed from the January low to the March low was followed by an impulsvie move up to approximately 4.00%. The 2.618 Fibonacci target of this pattern was 4.008%, the actual high at 4.014%--a 0.6 basis points difference between target and actual high.
The pattern since that time seems to be a 3 wave non-impulsive correction of the move in 2009 to 4.00%. If that is the case we are currently in the C wave down.
Some potential targets for this C wave:
Another:
