10 yr T-Note looks

Soooo beautiful! It seems that many people are trying to sell 10 yr US treasuries hoping they've found the high, but I've taken the liberty of drawing in a line that can be thought of as "support levels" in terms of earnings. As it can be seen this trend is in line with the 50-day moving average. The trend also points to even lower interest rates. This is absolutely bullish data especially with the announcement of QE II. We can expect very well received T-Note auctions in the near future.

Chart courtesy of Yahoo! Finance. Technical analysis by Matthew Louie.

More to come later today...