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Early rally attempt failed and it now looks like next support is 96
12 -14 which is the working 78% retracement using the 23Jun low and the
C wave projection for this decline. That's a pretty deep retracement
which suggests that the 23Jun low will eventually be jeopardy taking us
back to May for a bottom from which to calculate retracements. Also the
B wave ("rally")was terribly shallow having the appearance of a bear
flag.
Earl
----- Original Message -----
From: "SCOTT WINSKI, APS FINANCIAL CORPOR" <WINSKI@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, July 17, 2000 11:20 AM
Subject: [RT] TBONDS
> It looks as though the bond players are placing their bets in front of
tomorrow
> cpi number and it is on the short side of the market. The contract hit
a low of
> 96-21 after printing 98-28 or so on Friday. Quite a move. The market
expects
> a cpi number of .5% core .2%. Anything higher and would expect a test
of 95-30.
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