While the daily TNX appears to have bottomed or will bottom in a day or two (Actually, it looks similar to the Sept. 24 low:
stockcharts.com[h,a]daclyyay[pc10!c20!d20,2!a37.55][vc60][ilb14!lp14,3,3!ll14!la12,26,9!lh5,5!li10,10!lb14][J8208392,Y]&pref=G
The weekly is still pointing down:
stockcharts.com[h,a]waclyyay[pc10!c20!d20,2!a37.55][vc60][iLb14!Lp14,3,3!Ll14!La12,26,9!Lh5,5!Li10,10!Lb14][J8208392,Y]&pref=G
The monthly has not quite hit bottom yet:
stockcharts.com[h,a]maclyyay[pc10!c20!d20,2!a37.55][vc60][iLb14!Lp14,3,3!Ll14!La12,26,9!Lh5,5!Li10,10!Lb14][J8208392,Y]&pref=G
I'm looking at April 4 as a sweet spot for a TNX low around 3.20 to 3.40 based on the T/A targets I've been watching. 15-year mortgages could be 4.5% for a day or two if that happens. |
