Tuesday, December 05, 2006


Here is an hourly chart of March T-bond futures. I last commented on this market here.

I think the market is nearing the end of a corrective phase which will find support near 113-30. This would make this correction as big as the last one (highlighted in red). The next development should be a rally to 115-16.

I see a lot of short term bullishness in the bond market. This is one reason why I think the next move of 5 points or so from current levels will be downward.

No comments: