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

To: pater tenebrarum who wrote (18041)	6/21/1999 11:34:00 AM
From: J. P.	Read Replies (3) \| Respond to of 99985

30 year Treasury yield looks like a rising wedge. I'm to understand rising wedges resolve bearishly, which would be bullish for bonds. The price action today is staying roughly within the trendlines. http://jptnnr@members.home.net/jptnnr/30TYX.htm chartpatterns.com

To: pater tenebrarum who wrote (18041)	6/21/1999 11:36:00 AM
From: j.o.	Read Replies (1) \| Respond to of 99985

Interesting poing...and possible due to the fact that the recent tops form a complete 5-wave upmove. After that we can either have an ABC or a new 5-wave (rate) downmove. Direction is lower rates for the near future, in my view. The only thing that can mess with this scenario is a loss of confidence in the dollar. That would damage flows into the US and put the bond (and stocks) at risk. Cheers, j.o.