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--- In gannsghost@xxxxxxxxxxxxxxx, "topos8" <topos8@xxxx> wrote:
The bond market has been in a very big and extended trading range
since its August 2003 low. At this juncture my square of 9
calculations show very strong resistance in the March bonds at 112-24
and in the March 10 year notes at 114-24. My best guess is that these
markets are about to establish tops similar in importance to the
October 1, 2003 top. It is very likely that the subsequent downmove
will break below the August 2003 low. While the futures markets are a
bit above their October 1, 2003 tops it is worth pointing out that
the cash market is still below its corresponding top.
For the S&P 500 my calculations show that 1129 is the strongest
resistance the market has encountered since the 1039 level which
resulted in a 50 point break. Fron 1129, however, I think that any
break is likely to end around 1105 with 1090 being my second choice.
Next significant resitance on the upside is 1148, but I really don't
think that the market will be vulnerable to more than a 50 point
break until it rallies above 1160.
Carl
--- End forwarded message ---
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