Friday, May 1, 2015
Treasuries Have (Candlestick predicted) Tough Week
Treasury yields jumped this week with 10 year yields rising 20 basis points from 1.91 settle last Friday. The technical backdrop for Treasuries has deteriorated and there appears to be room for further weakness over the coming week(s).
Since then, Treasuries have sold off and depending on how you draw; the neck line was broken on Tuesday or Wednesday. The objective of the bearish reverse, in Western style analysis, would be roughly 127-07.