October 23 (Thu): 【Harmonic】 Nikkei 225 vs US 10-year Treasury yield

【This Week's Market Focus Points】

In this week's harmonic analysis, we are facing a very interesting situation where multiple patterns overlap with the U.S. 10-year Treasury yield. Weekly chart Crab ➜ is distorted but remains within the PRZ, and the main scenario continues with a decline toward the T/P-Zone. On the 4-hour chart Deep Crab ➜ has reached the PRZ, and from the perspective of Elliott Wave diagonals, a temporary reversal upward is possible, but there is still room for further decline to the lower bound of the trendline. Furthermore, on the daily chart Butterfly ➜ may decline to its PRZ, and since harmonic patterns overlap across multiple timeframes, we expect the U.S. 10-year yield to favor a downward movement.

The Nikkei 225 currently has no drawable pattern, but it tends to move in correlation with the U.S. 10-year yield, so it is noteworthy.

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