Elliott Wave Analysis On 10 Year US Notes And SP500
10 Year US Notes
10 Year US Notes are trading at new low, but this may be only a spike in wave B that is part of an ongoing correction. We are still waiting on a completed A-B-C structure, which is now a flat, so price can rally back to 132,00 level before downtrend resumes.
10 Year US Notes, 1H
S&P500 is trading at the highs, so we see a completed red wave 4) at 2152 as a triangle. That said a new five wave bullish structure can be underway within red wave 5). If we are correct then strong leg up in sub-wave 3 is around the corner. We remain bullish as long as price is trading above 2152; break beneath that level will suggest that the red wave 5) is already finished.
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