Tuesday, December 27, 2005


Here is an hourly chart showing pit trading in the March T-bond futures.

My original short term target was 114-16 but the market has moved past this without slowing down so now I think it will reach 115-12 before a reaction can start.

My target for the rally from November's 110-12 low in the December contract was 115-116. The market should enter that zone soon and I think will will start to see signs of an impending top.

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