Ten-Year yields have been pounding on a ‘hidden’ support at 4.430% for more than two weeks, presumably getting ready for a drop to exactly 4.242%.
A tradable rally from that Hidden Pivot support looks like an 80% bet, but if it eventually gives way, look for a further fall to 3.959% or even 3.675%. By all means, jot these numbers down if you care about where long-term interest rates are headed, since charts can predict them far more accurately than the dartboard guesses you’ll get from Bloomberg’s talking heads, The Economist, The Wall Street Journal, the punditry, Fox Business News, MSNBC et al.
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