Short Term Trading Member Forum

[techcharter]

BONDS RALLY HARD

Yesterday around 11 AM the 10 yr Trsy started wave 1 of the "one for the road" rally. This morning wave 3 started and ended. It looks like wave 4 started at 10:30 and ended around noon. The rest of day was wave 5. There may still be a little more rally into Monday.


http://charts.barchart.com/chart.asp?sym=TYU4&data=Z05&date=071604&den=MEDHI&evnt=of...


On the yield chart, the Stochastics are still very oversold. The yield just missed tagging the lower Bollinger band. The MACD histogram has been going steady for 2 months. The signals are at extreme and giving conflicting buy and sell signals, so there may still be more drop in the yield next week.

http://stockcharts.com/def/servlet/SC.web?c=$TNX,uu[w,a]dacayyay[dc][pb50!d20,2!f][vc60][iLp14,3,3!L...



This is a good example of a post triangle rally. The triangle started on July 2. Wave e of the triangle is also a triangle.

http://charts.barchart.com/chart.asp?sym=TYU4&data=Z45&date=071604&den=HIGH&evnt=off...