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TNX: 10 Year T-Note Yield Headed Higher? The Jury Is Out

TVC:TNX   CBOE 10 YR TREASURY NOTE YIELD
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Yes, the Fed has spoken. Halloween came early and the sky was falling.
I don't think the 10 Year T-Note Yield is going much higher.
The Federal Reserve doesn't control the front end on the curve. The market does.
I still remain bullish on bonds and-TLT.
The above chart is still in a down trend channel.
The CHOP is high (indicator under the chart), but is back in the shaded area below 61.8.
Look, Friday was a good cop bad cop Fed speak mumbo jumbo gumbo. The markets don't have clear direction.
So, I will think rates are going higher ONLY IF yields break the down trend channel to the upside.
If the Fed does raise rates - this will most likely have very negative effects on all markets, especially foreign.
I don't think they will.
So don't panic. Follow your charts. They will know when. Right now I think rates head lower.
Good luck to you. Don.

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