Quote:
Originally posted by wig@Apr 5 2004, 08:10 AM
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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good call on the stocks, indeed!
;-)))