30yr bonds weekly 9-17-13

30yr bonds daily 9-17-13

30yr bonds 360m 9-17-13

30yr bonds 90m 9-17-13

Elliott Wave Analysis of 30-yr T-Bonds by Sid from ElliottWavePredictions.com. Click on the charts twice to enlarge.

The weekly and daily charts above illustrate May 1 as the orthodox top in 30-yr bonds, allowing the wave counts moving forward to be similar in junk bonds, the 30-yr, and the 10-yr. (The actual price high in the 30yr was back in July of last year.)

Since May 1, a 5-wave downward impulse completed back on August 19 in my opinion, and since then, both upward and downward waves has been corrective looking. After a 5-wave impulse, there really should be a Fibonacci recovery of at least .236, and that has not occurred yet. The wave count shown on the 90-minute chart above projects that, based on the waves seen so far since the September 6 low, after a small c wave to the downside, (but not to below 128^19), a strong rally will follow lasting about 10 days or so to finish wave 5 of the expanding ending diagonal. The target for the end of pink C is 133^00. That may or may not mark the end of blue wave 2.