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Daily MOB resistance held the rally and the momentum divergence on both
the weekly and daily charts appears to be asserting control. This
suggests we may have a completed ABC on the weekly chart and W.1-5 on
the daily. I am now trading a possible reversal in the bonds (i.e. I
have put on an initial short position) and am looking for initial
confirmation of a reversal on the hourly. I am also watching the
Nov94-Apr97 trendline for possible failure. Depending on what action
during the next couple of days reveals, we could see a decline to the
9715 area or even lower.
Earl
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxx>
Sent: Wednesday, November 22, 2000 8:58 AM
Subject: Re: [RT] Re: Bonds on the up....
> Hourly turned bullish with yesterday's move above 10021. This morning,
> bond gapped right through this Nov94-Apr27 trendline which is bullish
> and suggests a move higher. Next resistance is AGet MOB and middle of
> regression channel at 10127. I expect a move above the left pivot high
> at 10219, quite likely to 10320.
>
> Earl
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