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--- In gannsghost@xxxxxxxxxxxxxxx, "topos8" <topos8@xxxx> wrote:
My price-square-time calculations are saying that the bond market is
very close to a top which will be followed by a break to 115 and
possibly down to 111 in the bond futures. I show strong intermediate
term resistance in the September bonds in the 122-123 zone and in the
September 10 year notes in the 120-121 zone. There is a good chance
that these downside targets are too optimistic and that the bond
futures will drop further into the 105-107 zone.
This bond market assesment is consonant with my stock market views
which were last expressed in GG# 20362 (March 21, 2003) and GG #
19037 (January 2, 2003)and are based on my price-square-time
calculations as well as my interpretations of George Linday's stock
market methods.
I think the recent breakout in the S&P 500 above the August 2002 and
December 2002 tops is genuine and is the midpoint of a move to above
the 1100 level later this year. This in turn will probably be only
the first phase of a two phase bull market which will eventually
bring the S&P up to 1330 or so in 2005.
If I am right about this stock market scenario then the economy will
start to show more strength than currently expected and this will
provide the impetus for a downward correction in bond prices and an
upward move in yields.
Carl
--- End forwarded message ---
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