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118^00 is the 78.6% retracement of yesterday's sell-off. I think if we can
close at 118^01 or better, we will move higher, perhaps to that downtrend
line across the highs 4/30-5/14.
Earl
----- Original Message -----
From: Bob Hunt <RHunt.066@xxxxxxxxxxxxxxxx>
To: <eadamy@xxxxxxxxxx>
Cc: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Sent: Wednesday, May 19, 1999 11:08 AM
Subject: Re: June T-Bonds
> I agree in that the general activity above the 117-21 Daily Pivot has
> bullish implications (attached chart), but the market seems to be
> having trouble breaking through the psychologically important 5.875%
> yield barrier.
>
> Although nothing definitive can be read from the 3EMA-10EMA
> Oscillator, the last swing pivot occurred on an increase in downward
> momentum, implying further downside. I think we're stuck here until
> either the 117-31 barrier can be broken to the topside, or the 117-21
> Daily Pivot level can be broken to the downside. We shall see!
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