Chart US Treasuries - 10 yr, 20yr, 30yr

You will notice on both the daily and monthly charts, the low angle uptrends are intact and very well defined. On the daily charts you will notice the 45 degree angle downtrends have all been broken and on the 20yr chart there is a bullish volume profile as well. Treasury prices appear to be factoring in a fall in equities and initially I would be expecting an inverse relationship to prevail for the time being - as long as a certain amount of trust remains in the USD. That relationship does not extend to Corporate and Municipal Bonds however, which I expect will move down with equities. Again, as for the USD, the intraday P&F Comex charts are giving a clearer picture of a bullish style accumulation.