Ten Year Bond Yields (Monthly)

     Today's post continues the examination of the ten year bond yield begun yesterday. On the monthly chart shown above (which begins Jun 07) a TD Buy Setup completed (indicated by the number 9) in Apr 08 and was followed by a 50% retracement rally. After that there have been no other setup or sequential countdown milestones. Towards the end of the chart we can see that countdown bar #12 was posted in Sep 10 and a buy setup bar #8 in Nov 10.
     There are three Elliott Wave counts viable from the June 2007 high. The one depicted in pink is a developing Double Three (a-b-c-x-a-b-?); the one in gold a Triangle (A-B-?-?-?) and the one is silver a new corrective pattern (Flat or Triangle) that begins at the Dec 08 low. Note that with all of these counts the action over the past few months is important - did an Elliott Wave pattern end recently?
     I will focus on answering that question with a look at the weekly chart in the next posting.