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As this is written the March bond futures are trading at 99-26 and
the S&P futures at 1177.50.
I posted this message on the Gannsghost group at the close of trading
on Wednesday, January 2.
It may be of interest to those who trade these markets.
Carl
--- In gannsghost@xxxx, "topos8" <topos8@xxxx> wrote:
As this is written the March t-bonds have closed at 100-04 and the
March S&P near 1154.
In GG# #8225 and 8251 I used my Square of Nine method for squaring
price with time to forecast a drop in the March bonds from resistance
at 101-24 to support at 98-16 and a drop in the March 10 year notes
from resistance at 105-12 to support at 102-04.
In the event the bonds dropped from 101-26 on Dec. 21 to 100-00 on
Dec. 27, then rallied back to 101-29 early this morning before
breaking sharply to reach 99-29 late in the day.
The notes followed a similar pattern: a high at 105-08, then down to
103-23, then up to 105-11 and finally a break which so far has
carried down to 104-04.
These price swings during the past two weeks have caused me to revise
my forecast. Now it looks like the bonds will establish a low at 99-
22 and then rally to 104 or so (intermediate term upside target is
around 105). As for the notes, a low at 103-28 followed by a rally to
106-20 (approximately) is likely. Intermediate term target here is
roughly 107.
As for the S&P's, today's low at 1136.50 will hold and the market
should now proceed to 1185 short term resistance. From there a break
back to roughly 1140 would be the worst we are likely to see on the
downside. My calculations tell me there is no danger of a multi-week
drop in the S&P until the market gets up near 1250 or so.
Carl
--- End forwarded message ---
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