Rates plunged along with stocks over the last several weeks. This makes sense because rates move lower when bonds move high. This chart shows the 10-year Treasury Yield ($TNX) breaking triangle support with a move below 24 (2.4%). Rates remain in a long-term downtrend and Treasury bonds are in a long-term uptrend.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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