The Day Ahead: PM Edition 2019-01-03

I’ve made some slight modifications for my wave v of (a) targets in bonds since I moved the location of iv up to the December consolidation. Both weekly and daily cycles suggest a swing high is being set nearby. First step in turning lower is prices dropping under old resistance at 147^31 and next the smallest of retrace targets of 147^07.

The Day Ahead: PM Edition 2019-01-02

Bonds began to retrace intraday but advanced toward the next relevant Fib extension of 148^02 late in the day. The longer of the dominant daily cycles is suggesting that the upward trajectory should be nearing an end but probably still too aggressive to outright short aside from an aggressive intraday trade near resistance.