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Sept T-Bonds are trading at an interesting price level. I use the market's
50 day moving average (at 113.11 today) as kind of a "moving major uptrend
line", and although it was breached slightly last week, the market has come
back above it nicely over the last five sessions. The market has also
recently tested the upper parameters of bullish symmetrical triangles
(support) that appear on the daily and weekly charts (at 112.28 and 112.17,
respectively), and has moved higher. My work indicates that, if T-Bonds
are "good" (my work suggests that they are), this general price area should
be the start of the next significant move higher, and a good spot to start
building a new long position. The minimum upside objectives for the
bullish triangles on the weeklies and monthlies are 127 and change <gasp>.
What do you think?
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