This Bullish Pattern Signals A Surge To 3.25% On The 10 Year
The 10-year yield continues to hover below the recent high of 1.75%. Based on a classic bullish inverse head and shoulder pattern, get ready for the 10-year yield at 3.25% within a year. This signals tightening by the Federal Reserve as well as more robust inflation than the market is pricing in. It is also a bearish signal for the stock market, specifically technology stocks. The head and shoulder inverse pattern can clearly be seen in the stock chart below.
(Click on image to enlarge)
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