Bonds did make a new high over that of February 3rd today but I think it best to allow it to attempt to reach 165^21. What would the alternate be if bonds are not rising in a 'b' wave? Well, I would put the (b) at the low of in January of this year and say this is up in (c) of the large ending diagonal. The only problem I have had with that type of count is that wave (b) looks a little shallow on a weekly or monthly chart but the form would work. I'll have more to say on this when I publish the weekly charts on Sunday.

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