$TNX.X – Ten-Year Note Rate (Last:5.18%)

Rates on the Ten-Year Note are coming up on a very important number, a Hidden Pivot midpoint resistance at 5.51% (slightly corrected from last week’s 5.54%).  I expect the trend to pause there; however, if it doesn’t, that would open a path to as high as 7.48%. Once decisively above p=5.51%, any pullback that falls short of 3.25% would be deemed merely corrective rather than the impulsive start of a bear market. Notice that it is possible to slide ‘A’ down one more level, to a one-off  at 5.04%. The 8.10% target that would yield can be ignored for now, since it seems farfetched. But we can still use the 5.82% midpoint Hidden Pivot as a potentially key resistance.