ANALYSIS The Great Bond Sell Off is Almost Over (in my opinion)

You probably read ( or reading) by now that yield are going bonkers today. 10-year Treasury notes surged seven basis points to 2.84 percent, the highest since Aug. 1, 2011. Taking a look at the ^TNX , the10 year treasury yield index and, ZN, the 10 year treasury note futures, we can see that they 're both approaching resistance and support point.

This is happening as the SP 500 is losing steam . In my opinion, if these resistance point and support hold , this could signal the end of the bond sell off for this year.

Cheers

Algo