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Looking at it on a daily basis, we may see the end of wave 5 and a A
retracement over 120-
Who knows ?
Jacques Honoré
----- Message d'origine -----
De : Tom Alexander <gta3@xxxxxxxxxxxxx>
À : <realtraders@xxxxxxxxxxxx>
Envoyé : mardi 29 juin 1999 15:37
Objet : Bonds
> With all the attention on the bond market at present, I thought I'd share
> my current take on that market. Attached is an chart with Elliott
> labelings. For those unfamiliar with Elliott, Elliott is simply an attempt
> to label market pivots in a consistent sequence relying heavily on the
> Fibonacci relationships between those pivots.
>
> We are presently in a normal three wave corrective sequence off the recent
> lows, labeled A - B - C (A up, B down, C up). C has so far retraced to the
> point that it is equal in length to A, a common relationship in three wave
> (corrective) moves. Next resistance is at the 115^05 level where C would
be
> equal to 1.618 times A, and is also just above a .618 retracement of the
> next bigger swing down.
>
> Translation: If we move above (especially if we close above) the 115^05
> area bonds may have put in a significant bottom and should rally
> considerably higher over the intermediate term. If bonds turn down from
> here, or reverse sharply from the 115^05 area, we will probably see new
> lows before any significant rally.
>
> Regards,
>
> Tom Alexander
>
Attachment Converted: "c:\eudora\attach\USTbond.gif"
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