TNX 10-Year Treasury Note Yield Weekly Chart Inverted H&S's Overbot Rising Wedge Negative Divergence

TNX weekly chart continues to display several inverted H&S patterns where you can vary the necklines to create different targets. The horizontal blue lines target 3.20% and the brown slanted lines target 2.85%-ish which was already achieved. A neckline closer to 2.20% would create a target of 3.00% exactly where yield now sits. The red lines show a rising wedge and negative divergence along with overbot indicators. The ADX line does verify the strong upward trend in yields and the MACD line wants to see another price high after a pullback so yields may flutter at these levels for a week or two before the negative divergence should start to kick yields lower moving forward.

The daily chart is negatively diverged and see a move lower so a move into the 2.85% range would be a reasonable projection for early to middle next week, then back up, then roll over as the weeks play out. Of course, especially with the volatile jobs report on tap in the morning, anything is on the table, including the finishing of the wedge at the apex and inverted H&S target of 3.20%. Keystone's 80/20 rule says 8's lead to 2's so the move up through 2.80% does hint that 3.20% should occur at some point forward. The markets are a crap shoot with all the Fed intervention ruining price discovery over the last few years. Projection is for sideways to sideways lower yields for the days and weeks ahead. Keystone bot TLT today opening a new long position. This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.