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Hi Stig. I have wave-based targets broadly between 118 and 115. If we
get close to 115, I would expect a new high later this year or early
next. If we halt near 118, would look for large rally (10-11 points) and
then another low or match of 118 area before we at least make an attempt
at new highs. This is based on my elliott wave analysis.
--
Steven W. Poser, President
Poser Global Market Strategies Inc.
http://www.poserglobal.com
Tel: 201-995-0845
Fax: 201-995-0846
Email: swp@xxxxxxxxxxxxxxx
Stig Olausson wrote:
>
> Short term, however, into april, I am still bearish bonds.
>
> Check gif: We have made a lower low after not being able to rise above the
> last high. These two highs forming a "Hidden divergence" in STORSI,
> indicating further downside movement.
> Candelstick:The Wednesday top was a doji star (indicating trendreversal)
> followed by a sharp sellof below the trendline A / 40 days moving average
> and Friday with what could be labeld graveyard doji. Short time bearish
> factors.
>
> Perhaps we need 2 more tests of the 119 area before testing the low 117.12
> of Mar 5/98, but I would not be surprised if we get there before joining
> the bullish seasonal forces in April.
>
> several fib time relationships points to a bottom in the Apr 6-9 area +
> callendarday/tradingday counts from earlier tops bottoms:half a year since
> the oct 5 /99 top 144/2=72 CD since the jan 29 top (more in the chart)
> .
> rgrds
>
> Stig
>
> ------------------------------------------------------------------------
> Name: bonds.gif
> bonds.gif Type: GIF Image (image/gif)
> Encoding: base64
> Description: bonds (Paint Shop Pro 5 Image)
--
Steven W. Poser, President
Poser Global Market Strategies Inc.
http://www.poserglobal.com
Tel: 201-995-0845
Fax: 201-995-0846
Email: swp@xxxxxxxxxxxxxxx
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