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Post# of 51819
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techcharter

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techcharter

Re: tekprod post# 35243

Thursday, 08/28/2008 10:06:55 PM

Thursday, August 28, 2008 10:06:55 PM

Post# of 51819
10 YR - No Break

I think the 3.70% level is an area of strong support. The 4.5 yr cycle bottomed in March '08 and the ensuing rally was an impulsive e-wave. The recent pullback in the yield is a zigzag correction about to complete the zag.

If the pullback in yield were impulsive, the second segment (wave 3) would be sharper and deeper than the (first wave 1). Presently the potential for wave 5 to overlap wave 1 is very high, a violation of rules.

Fundamentally there is so much pressure to dump treasuries as the last source of cash. This is highly deflationary.


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