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--- In gannsghost@xxxxxxxxxxxxxxx, "topos8" <topos8@xxxx> wrote:
My support and resistance calculations are telling me that that
Friday's highs in the bonds and notes (112-02 and 113-03 in
electronic trading) marked the end of the rally in these markets from
the May lows. In my last post (August 7, gg # 27523) I projected a
bear market low for the bond futures in the 100-102 range. I still
think this is a good target but it may take the market 6 months to
get there from here. Thus I think it likely that the next 6 months
will see many big swings in the bonds which in retrospect will all be
part of a big trading range between 100 and 116.
The shorter end of the market ( 10 years and less) will do worse than
the bonds and show a more pronounced downward trend since I am
expecting the yield curve to flatten substantially from current
levels.
The S&P's are in the early stages of a strong rally which is likely
to carry this market to 1260 by early November. I still think that a
break of at least 150 points is likely once that level is reached but
still higher highs in the S&P are likely during the second half of
2005.
Carl
--- End forwarded message ---
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