Elliot Wave Monthly Count on Bond Rates
It appears that Bonds failed and reversed at a exact 0.618 extension of the bull run since 2008 and reversed sharply which is characteristic of a truncated C Wave suggesting we are headed much lower in prices and consequently much higher in yields. (Possibly all the way back to 2008 origination.)
Note I have labelled this as an ABC move and not an impulsive move as the alternate count is we are in wave 4 but as Wave 4 has already intruded into the top of Wave 1 ( Alternate to A) so this is presently discounted.
Bonds should find support in the 122.00 area leading to a rally to 126-127.60 area and subsequent stock market rally but it will be short lived as the next move down is expected to take bonds to 116.65 and stock markets down with it.
Note I have labelled this as an ABC move and not an impulsive move as the alternate count is we are in wave 4 but as Wave 4 has already intruded into the top of Wave 1 ( Alternate to A) so this is presently discounted.
Bonds should find support in the 122.00 area leading to a rally to 126-127.60 area and subsequent stock market rally but it will be short lived as the next move down is expected to take bonds to 116.65 and stock markets down with it.
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