LQD - 10-Year Treasuries - Technical Analysis
What does the technical picture tell us about the 10-Year US Treasury yield? The pale green area in the chart below is a rising trend channel. Rates rose within that channel since the mid-2016 secular low. It got broken to the downside during late 2018. The break occurred within the swing that is encapsulated by the pale grey trend channel.
The swing within the pale grey trend channel is labeled as minor wave A. It counts as an impulse within the Elliott wave framework. An impulse at this particular junction implies that there is