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I tried to post this a couple of minutes after it was written but
somehow it got lost in cyberspace.
--- In gannsghost@xxxx, "topos8" <topos8@xxxx> wrote:
AS I write this the March bonds are trading at 101-24 (up from
today's low at 101-13) and the 10 year notes at 105-05.
In GG#8718 I said that the bonds would stop at 102-24 support and
then rally to 105-08. In the event the support held only for two days
before the market headed even lower.
My method for squaring price with time now tells me that the bonds
have reached very strong support near 101-16 and the notes near 105-
00. From here both market should move up strongly. The bonds should
move well above 105-00 and the notes should reach 108.
This is likely to be the last rally in the uptrend which began from
the December lows. Once a top occurs both the bonds and notes are
likely to drop below the December lows.
It still looks like the S&P 500 is headed to 1190 or so as the first
leg in a move into the upper 1200's. The worst I see on the downside
from here is 1105 and I think it more likely that the 1117.50 low in
the March futures will hold.
Carl
--- End forwarded message ---
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