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We just took out 97-21, forming both a spring reversal and a bearish
outside reversal, so a strong bounce back into the close is now critical
to the bullish case.
.
Earl
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, July 14, 2000 7:48 AM
Subject: [RT] Re: BONDS
> 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
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