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After rallying to 98-27, bonds have pulled back quickly to support in
the previous breakout area just above 98. The overall picture remains
bullish and bonds are due for a (w.4) consolidation, however one should
be alert to the possibility of a spring reversal today should support
around 98-05 fail to hold followed by a decline below 97-21 with close
at/near the low of today. This bearish reversal pattern is generally
formed in two days - one up, one down. Such a failure would threaten a
complete failure of the bullish picture.
Earl
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, July 13, 2000 11:15 AM
Subject: [RT] Re: BONDS
> Generally, I believe bonds are currently in w4 of w3 larger degree.
I'm
> looking for a bottom to form within the next 20 minutes or so (around
> 1330 eastern) followed by w5 rally to around 9818 for the close or
> tomorrow's open. Tomorrow's news would be likely to provide a w4
decline
> back to 97-98, then another rally.
>
> Earl
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