John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (2664)	8/17/2000 12:15:19 PM
From: John Pitera	of 33421

Here is the 10 Year Note Yield Chart.... geocities.com short term we have hit a double bottom in yield at 5.72. this chart appears to be a descending triangle so this is bullish in the bigger picture, say next 4 to 6 months. But shorter term it would be very reasonable to see the yield move back to 5.97 and even back to the 6.17 area where we have bounced off several times. note that the 50 dma will also be coming down to the 5.97 area over the next week and the 200 dma will be heading down to 6.15-6.20 in a few weeks. right now the descending pattern does not look complete and a 3 wave advance in yield (decline in price) would create more symmetry. A break with volume and momentum below 5.72 would be very bullish for the notes and bonds generally and that should be what will occur later this year. John

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