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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

US 10-Year Noyes 1-Hour Chart


S&P500

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.

S&P500, 1H

S&P500 1-Hour Chart

 


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