Tuesday, June 14, 2005

Bonds and Notes

The reaction in the bonds and notes from the June 3 top keeps breaking past the support levels I thought would mark its end. The bonds have reached the third step down in their ½ box staircase at 116-05. The notes still have a bit further to go to reach 112-06 which is the third step down in their ½ box staircase. I am expecting a big rally in both markets from current levels.

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