Wednesday, November 30, 2005

Bonds and Notes

Here are updated hourly charts showing pit trading in the March '06 T-bond and 10 year note futures.

I've transferred the boxes which I think are controlling the upmove from the November 4 low from the December into the March contracts.

As you can see both markets have dropped to the low of the current box. I think the next big swing in both will be upwards.

The move up from the November 4 low is a rally in a bear market in my view, but I think the bonds will get into the 115-116 range and the notes into the 111-112 range before the bear market resumes.

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