For those technical analysis bashers and denigrators out there, this week's economist published a chart under the heading: Trend-breaking - US ten-year Treasury bond yields, identical to the one above (which I took the liberty of re-creating on Tradestation).

You'll notice the bearish falling channel being broken this week, which might indicate the end of the downtrend in ten-year bond yields and maybe the start of an uptrend (although it's too early to tell). The reference to trend-breaking in the title could not be more explicit. This, ladies and gentlemen, in the main article of the Finance and economics section of this most eminent of mainstream magazines is technical analysis at its most basic (and most effective), namely trendline analysis.