T-bonds

Here is an hourly chart showing regular hours trading in the September T-bond futures. I last commented on this market here.

I had thought that the market would break below support at 105-12 and continue down to 104. But as you can see the 105-12 level has held like a rock. This makes me think that a breakout above resistance near 106-22 is imminent. If we close today above 106-22 I shall conclude that the bonds are headed up into the 110-111 zone.