10 year US Treasury Note futures - 20 April 2023: grinding lower.
You will come across specific terms in these notes (FLD, VTL, and so on). Rather than explain them each time, you will find definitions here: guidance notes for Hurst cycles terminology
80 day cycle trough due soon
1. The 10 year note futures are the direct inverse of the US 10 year yield. They also have a -80% correlation with the US Dollar YTD - i.e. they go in opposite directions more or less (see this Monday's Macro Outlook for Dollar view).
2. The overall trend is down with a 20 week cycle trough due mid-July. And notice that the current 80 day cycle peak came in very early which is bearish.
3. We are looking for an 80 day cycle trough between the last week of April and the first week of May, potentially at the 112 handle. Price down until then. Afterwards a counter-trend bounce and then grind lower.
