Posted on 2/28/2018 7:42 AM by Dave Toth
MAR 10-Yr T-NOTES
Thus far the recent recovery attempt from 15-Feb’s 120.01 low to Mon’s 121.005 high is only a 3-wave affair as labeled in the 240-min chart below. Left unaltered by a recovery above 121.00 that we’re considering our new short-term risk parameter, this 3-wave rebound is considered another correction within the major downtrend and ahead of resumed losses. The Fibonacci fact that Mon’s 121.005 high was the exact 38.2% retrace of early-Feb’s 122.19 – 120.01-portion of the bear would seem to reinforce this bearish count.