The TNX is currently correcting the 93.43% up move in the mid of 2016.
To make long story short, we want to buy tnx at around 1.99% IF it can manage to break the current low at around 2.17%.
Consequently, with a break of the low of 2.17% and TNX reaching 1.99% we believe that the correction in the indices or not over yet. So in case of a leg lower in TNX we expect indices to follow the downside path of TNX. Why we expect this is because of intermarket analysis reasons. We cant go into detail because we want to protect our clients privilege.