Friday, August 25, 2006


Here is a daily chart of the September T-bond futures. I last commented on this market here.

The market has entered my long standing target range of 110-111 for the rally from the May low. I see resistance at 110-08 and I think the next significant move in the bonds will be downward to a low above the May low. Right now I am guessing that this upcoming low will develop around the 106-24 level.

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