Thursday, July 14, 2005

Bonds and Notes


In this morning's guesstimate I said that the bonds would rally to resistance at 117-08 and then resume their decline. Well I was wrong about that and the market has already resumed its drop with a vengence. The hourly chart above shows the September bonds which are now on the way to the 1/2 point of the current box at 115-26 and ultimately to the bottom of the box at 115-04.

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