Elliott Wave Analysis of the 10Y US Treasury Yield - Wave C down to 3.23% is in motion
In my April 15 post I called for a top near 4.59% to complete wave B and then a decline in wave C towards strong support near 3.23%.
We have seen wave B peak at 4.74% and wave C is now in motion with the 3.23% target as the goal.
Resistance is now seen at 4.51%, which is expected to protect the upside as wave C make its way lower towards the 3.23% target.
The decline in rates will likely spark a money-bowering frenzy and finally push the economy over the brink and start a 4 year economic decline. I expect this economic decline to happen in the early part of 2025.
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