US 10YR has bounced after consolidating along our red line at 3.67%.
This was after 6 months of strong declines.
I believe a relief bounce is needed here before it can proceed lower to our Wave C target at 2.6%
A bounce to the 200 Day MA at 4.185% seems an adequate relief bounce, what we want to see is a bounce in 3 waves and so far this is what I am seeing.