Zeev's Turnips Patch-No Politics (ZEEV)

[ajtj99]

George, I looked a few things tonight on the TNX. Last night I determined today was a super critical day for the direction of the TNX over the next several months. The TNX did not disappoint, and it provided incredible clarity, IMO.

Major support was smashed today, and many bearish monthly indicators appeared. The June lows ought to be tested no later than Spring 2004, and I think they get breached.

We've got 3-black crows on the weekly TNX that project to 36.20, and there are actually 5 in the pattern if this week is down.

Bonds are back again. The rise to 46.68 ended a flat from last October.

I think the 41.10 level on the TNX may not be exceeded again for a long time, possibly 10 months to a year or more.

The current drop in the TNX reminds me a lot of the drop in the USD in Spring 2002.

Until this week, I left the door open to a possible rise to above 50 on the TNX, but that door got slammed shut this week.