|
PureBytes Links
Trading Reference Links
|
To me it looks like if we can get past the next few days with minimal
damage to the downside, we should see higher prices in the 30 yr bond.
With 3 weekly buy lines coming up starting next week, looking at the
daily time and price relationships is interesting.
There is an important sell line tomorrow (Thurs). If we get past that
with the MOB holding at 117 1/2, there is a 2.6 buyline (usually the
strongest ratio to use) in 4 days (Tuesday). The time clusters are ripe
for a turn, the wave count is a possible completed 5th wave, the
oscillators are oversold and would give a divergence with a turn soon,
so things may not be as bad as they appear IF the lows hold. If the
daily MOB breaks, we are left with the weekly around 115 and more
downside probing.
The next few days should be very important for the bond. The "best
guess" is the blue line projection. This however, should be an abc
retracement, which means significant downside action in the next half
year is a distinct possibility.
Take care,
Don
Attachment Converted: "c:\eudora\attach\snap0518usdaily.gif"
|