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So far the Advaced GET tool MOB (Make or
Break) target on the bond weekly has halted the bond advance.
The high so far is right into the center of the MOB target while being inside
the Black timing marks. Also the advance rose right up to the
Red 1 x 1 Gann line on the chart.
If broken (or Break part of the MOB) the
next Gann lines are roughly at 131-30 (blue line) then 136 (green line, not
shown).
Since the flight to quality in bonds, likely
relates to the weakness in the equity market. Why are the bonds still rallying,
while equities are rebounding?
A 230 point rally off the low is on SPX and
futures would be as a possible top of this bear market rally (230
points equal the two bear market rallies in 2000-2002)?
SPX 741 + 230 = 971?
ESZ8 739 + 230 =969?
The bond market could be anticipating another
decline coming, once this bear market rally is over (for the moment
anyway)?
Don Ewers
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