10-Year Treasury Note Overbought

The 10-Year Treasury Note got to 11.3% above its 50-day moving average yesterday.  As shown in the chart below, there have only been five other periods where the Note has gotten 10% above its 50-day since 1977.  The most overbought was 15% back in 1980, followed by 13.7% in 1982, and 12.5% in 1986.  Since 1986, the 10-Year hasn't gotten anywhere close to as overbought as it is now.  

If there's one thing we've learned in this market, it's that securities can stay overbought or oversold for long periods of time.  If you're looking to play the downside in the 10-Year, however, ProShares offers a double short ETF for 7-10 Year Treasuries with the ticker PST.