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--- In gannsghost@xxxx, "topos8" <topos8@xxxx> wrote:
As I write this the June S&P stands at 1072 and the September bond at
101-06 and the June bond at 102-13.
My price square time calculations tell me that the bonds and notes
have made an important top today and are heading lower.
In GG 11547 (May 1, 2002), I said the same thing. That day the June
bonds made a top at 103-04,dropped to 99-27 on May 14 and now have
rallied back to 102-28. My calculations project a drop over the next
few months that will carry this market into the 92-94 range.
On May 1 the June notes reached 106-05, dropped to 104-08 on May 14
and today traded as high as 107-01. This market should drop into the
99-100 range over the next few months.
On May 1 I thought that the S&P would hold 1060-1065 support. In the
event this market rallied to 1090 but then dropped to 1046 on May 7.
I still see 1060 as strong support and my calculations tell me that
yesterday's low at 1054.50 should hold and that the market should now
move above 1100. This should only be the early stage of a move to
1300 during the next few months.
Carl
--- End forwarded message ---
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