02/02/2009: 10 Year Treasury
Current Yield 2.84% Current Wilder Rsi: 63.83
Comments: Friday's Rsi close of 65.43 was the highest Rsi close since 06/13/08 at 67.33
While we continue to feel that the 10 Yr Treasury market is close to a trading high in yield, we also recognize that short term, the trend is still up. So far today, the 10 year treasury is trading in an "inside day" pattern, which is a trend continuation pattern, and that trend is for higher yields. The market appears to be close to a reversal point towards lower yields, but is not quite there, yet. Be patient.
What seems to make the most sense is a closing of the gap that occurred between the close of 11/28/08 and the open of 12/01/08, which would imply a yield up to 2.93%.
No comments:
Post a Comment