Bonds poked briefly above 139^08 to test the next overhead resist zone of 139^25 to 139^30. I continue to think this is a very good place for a wave ii to complete as prices are testing the origin of the swift break that took place early in the month. I also think it interesting that despite the volatility in the equity markets of late, bonds have only bounced in a three wave corrective formation and a relatively shallow bounce at that.
Bonds poked briefly above 139^08 to test the next overhead resist zone of 139^25 to 139^30. I continue to think this is a very good place for a wave ii to complete as prices are testing the origin of the swift break that took place early in the month. I also think it interesting that despite the volatility in the equity markets of late, bonds have only bounced in a three wave corrective formation and a relatively shallow bounce at that.
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