Rule 1 - Dont Buy GREEN barsDon't buy green bars just because you think its going to pump.
Entry at that arrow would not have reached the TP 50 points up.
Market reversed back down to support
T-notes
Yield Curve Continues to FallAs investors price in lower inflation and increased expectations for a Fed rate hike, the yield curve (between the 30 year bond and the two year note) is continuously making new lows. Typically, the flattening or steepening of the yield curve is led by one end, but in this case, both appear to be contributing equally. This presents a problem for the Fed as raising rates (or more hawkish rhetoric) could hurl the yield curve closer to negative territory.
We can see the spread has been hugging the lower bound of the Kovach Reversals Indicator for some time, which is an extremely bearish sign. Also, the slope of the spread has become increasingly more negative.
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Elliott Wave Analysis: 10 Year T-Notes Trapp In A CorrectionOn the 10 Year US Notes we see price undergoing a potential five wave drop, with price now trading in wave four as part of this drop. That said, price seems to be undergoing some slow and choppy price activity, which means wave four may unfold as more complex. As such we expect more overlapping price movement to come in play and probably a triangle correction will unfold.
T-note futures bearish, gap of supply achievedLarge oversupply of t-notes shown as a gap at 124.5, More space to the downside.
Gold will follow. Gold is also near supply level.