Wednesday, December 14, 2005


Here is an hourly chart of pit trading in the March '06 t-bond futures.

I think this market will make it into the 115-1165 zone during the next couple of months. Meantime the short term target is 113-28. I think a more substantial reaction will begin from point c at 114-18 because there the rally from b to c will equal the rally from the November 4 low at 110-01 to point a.

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