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To all of you fellow chartist: Is the Mar 30Y Bond tracing out an unusual
trading pattern or do I have eye strain? On the weekly chart, there
appears to be a left shoulder from July to early Sept, and the head formed
in January. On the daily, it appears that the first right shoulder is
being formed now. If anyone else is seeing this, please comment. I have
only seen two or three double shouldered H&S pattern. I have seen some
rare Double H&S formations. (see page 77&78 of Edwards&Magee)
If this is correct, measured move down would be in the 116-115 area. That
would propel interest rates back to the 7% area and would wreck havoc on
the stock markets.
Al Taglavore
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