U.S. 30 Year Yields Could Soon Reach 5%

The Elliott wave count for U.S. 30 year yields/rates (TYX) indcate a potential sharp rise.
The most likely TYX Elliott wave count has it forming a third of a third wave up. This is the most dynamic Elliott wave pattern. In this case it implies TYX could reach the 5.00 area in a few weeks.

If this were to occur it could have bearish implications for U.S. stocks.