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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (16459)	6/8/1999 8:10:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

Les, this is very interesting, as there seems to be a lot of consensus on a 6% or slightly higher yield on the long bond being a barrier and potential reversal point. this consensus is most prevalent among those primarily concerned with the stock market. in view of the fact that the resistance at this level is indeed formidable on the charts, it follows that a break of these levels would be extremely negative, suggesting much higher yields and much lower stock prices. bullish consensus among bond futures traders is at 30% currently, still above the oversold zone. regards, hb