Update For: Tuesday
Posted On: Tue, 29 Jul 2008 07:28:44 GMT
Treasury Bonds
Last Price: 115^025
Support: 114^290, 114^240, 114^165, 114^040
Resistance: 115^045, 115^175, 115^255, 116^060
Email: Bill Fox
  For tomorrow: Higher within the 115^175/255 area against 114^165.
Next 1 - 3 days: Higher to test 116^060 against 114^040.
[30 Year September Bond] Last: 115^025
[Res]: 115^045, 115^175, 115^255, 116^060, 116^140, 116^185
[Sup]: 114^290, 114^240, 114^165, 114^040, 113^280, 113^235
My instinct is to be more bullish here than the count would indicate. Stocks have failed at an important technical juncture, and this should provide a bid over the near to short-term. For now I will maintain the wave a label at the 113^110 low, but there is a good probability that wave(2) is complete there. Immediately, the focus is up within the 115^175/255 area at least, and the 116^060 Fibonacci resistance level is a likely target within the current advance. The focus is up Tuesday against 114/165, and the 114^040 level is critical support if we are to see a new high in wave b. B Fox
|
I understand that the pages
that I am viewing by subscription or trial are copyright protected products of
Elliott Wave International, Inc. I understand that it is illegal to
forward or re-transmit these pages in any form without written
authorization. I also understand that I am prohibited from allowing an
unauthorized person to view part or all of these pages. I agree that if I
break either or both of these restrictions that I or my firm, as subscriber,
will accept full financial liability to pay the annual subscription price for
all additional readers or recipients.
The Elliott Wave Principle is a detailed description of how markets behave. The description reveals that mass psychology swings from pessimism to optimism and back in a natural sequence, creating specific patterns in price movements. Each pattern has implications regarding the position of the market within its overall progression, past, present and future. The purpose of this publication and its associated services is to outline the progress of markets in terms of the Elliott Wave Principle an to educate interested parties in the successful application of the Elliott Wave Principle. While a reasonable course of conduct regarding investments may be formulated from such application, at no time will specific security recommendations of customized actionable advise be given, and at no time may a reader or caller be justified in inferring that any such advice is intended. Readers must be advised that while the information herein is expressed in good faith, it is not guaranteed. Be advised that the market service that never makes mistakes does not exist. Long-term success in the market demands recognition of the fact that error and uncertainty are part of any effort to assess future possibilities.
2008
Elliott Wave International. All rights reserved. |