Unchartered Territory-TNX
Anyone who thinks they know for sure what's going to happen in this market should follow price action very, very closely. TNX just closed the month of March by very bullishly crossing the monthly cloud. Since the 1980's interest rates have been in a down trend. TNX could have crossed the monthly cloud bullishly on a couple of occasions but it never had the power to do what it did this month. What happens now?
Here are the times TNX could have had the strength to cross the monthly cloud bullishly but it got rejected:
Here is this months action:
Looking at it from a different angle...below is the monthly chart of ZN. When interest rates rise, ZN futures goes down. Does a 6% Interest Rate sound crazy? Don't break that neckline!
Here are the times TNX could have had the strength to cross the monthly cloud bullishly but it got rejected:
Here is this months action:
Looking at it from a different angle...below is the monthly chart of ZN. When interest rates rise, ZN futures goes down. Does a 6% Interest Rate sound crazy? Don't break that neckline!
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