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--- In gannsghost@xxxxxxxxxxxxxxx, "topos8" <topos8@xxxx> wrote:
The bonds are trading at 107-08, up a bit from their low a few
minutes ago at 107-02. My square of 9 calculations are saying that
the first leg down from the 112-11 high has been completed and that a
rally, probably to 109-16, should be the next development.
It still looks like the bonds will drop to 98 or so before the whole
move down from 123-03 in June can be completed.
The S&P's will probably bounce off of the 1050 level today (high so
far is 1044.30. I can't tell how big the reaction will be, but the
most likely support is 1038. If that fails then a move down into the
1015-1018 range will become likely. In any case I don't see any
break bigger than 30 points developing until the market makes it up
into the 1065-1080 range.
Moreover, I doubt we'll see any break of more than 5 % until the
market moves well above the 1100 level.
Carl
Carl
--- End forwarded message ---
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