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did we hit the ULTIMATE bottom in rates?
I don't even think of trading my shorts ;-))) |
Serge,
Bonds tested their extreme, near-term support, although notes did not make it there. BPJ was short bonds and I gave him 109.16 as a place to get out. I guess it depends on your time horizon. It will now take a weekly close 108.16/US and 112.05/TY to turn the weekly trend down and give the first good indication of the mid March high being a MAJOR secondary peak. Short-term, I think they will consolidate and retest the recent lows. How we close on the weekly will be the deciding factor to me. I am leaning towards a consolidation followed by another rally into year end, but that can all change if they break down and give confirming closes. Long term (years) I think we are very close to the ultimate bottom in rates, but it will take a monthly close below the August 03 low to confirm. How about that cycle low in Stocks I had for the week of March 22nd? ;-)) |
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;-))) |
Watch April 19th! There are many things lining up on this date in many markets.
It is also the anniversary of many major events in the US. I will have more to say about this date in the next week or so. |
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you sound like Delphi's Oracle now ;-) |
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you sound like Delphi's Oracle now ;-)[/b][/quote] At this point, I will just say that it is lining up as a time where extremes (highs / lows) are likely to be set. They may only be "intermediate" degree highs or lows, but it will set the stage for the bigger picture extending into mid year. I want to watch this weeks action and closing levels before I commit. ;-) |
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They may only be "intermediate" degree highs or lows, but it will set the stage for the bigger picture extending into mid year. I want to watch this weeks action and closing levels before I commit. ;-)[/b][/quote] ok, let's watch,,,,I LUV to watch ;-))) |
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