Ten Year: Since October the 10 year has remained in a tight range and now it is testing the top of this range at 21.00 or a 2.10% yield. TNX test the top of this range on Monday and has since backed off of it. Since October there has been a pattern in the market with TNX as it hits 21.00 . Each time TNX gets to this level it foreshadowed the next "dip" in the market. It occurred in November and December and also back in September.
Overall: Watch 21.00 on the then year, if it breaks above it the market will rally but as of right now based on some of the stalling action going on and the pattern that has formed with TNX a dip lower is more likely.
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