A Bubble for Bonds?

That brings me to the chart of the yield on the 30-year Treasury bond. Since Nov. 13, it has moved from 4.34% to 3.24%. And that is just in two and a half weeks!

If I do a calculation to get a measured target on the yield of the 30-year Treasury, I take the high of the pattern at 4.79% and subtract the low of the pattern at 4% to get 0.79%. I then subtract that from the breakdown at 3.95% to get a target near 3.16%.

Now, since these numbers should be taken as areas and not exact readings I'd couch that target in the 3.15% to 3.20% area. But with the yield closing Monday at 3.24%, I'd say we're getting close to a bounce in yields. But at this point I'd call it just an oversold bounce.

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For more explanation of these indicators, check out The Chartist's primer.

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Know What You Own: Meisler mentioned Nasdaq. Companies that are listed on the exchange include Applied Materials (AMAT - commentary - Cramer's Take), Biogen Idec (BIIB - commentary - Cramer's Take), Google (GOOG - commentary - Cramer's Take), Gilead Sciences (GILD - commentary - Cramer's Take), Juniper Networks (JNPR - commentary - Cramer's Take), Oracle (ORCL - commentary - Cramer's Take) and Microsoft (MSFT - commentary - Cramer's Take).

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At the time of publication, Meisler had no positions in any stocks mentioned, although holdings can change at any time.

Helene Meisler writes a daily technical analysis column and TheStreet.com Top Stocks. For more information, click here. Meisler trained at several Wall Street firms, including Goldman Sachs and SG Cowen, and has worked with the equity trading department at Cargill. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. She appreciates your feedback; click here to send her an email.