Bonds have followed the script for lower but we need to start worrying about a bounce. Prefer to see yet another lower before a bigger bounce as it would look better to my eye with more than just a poke under the monthly and weekly trend lines.
Here are the monthly line close and the candlestick charts.
The cycle suggests there is further bond weakness ahead later in the year.
The weekly cycle will be turning up soon but it is not unusual to see the actual price low run late. However, it is telling us that time is running out for lower. I want to see a new low with positive divergence on the Adaptive CCI in the next 4-8 weeks. I have added the Wave 59 9-5 exhaustion study to this chart. You will notice the gold four under the low which is just short of the ideal gold five.
