Elliott Wave International - Market Analysis

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Today is Thursday, July 31, 2008	Return to My EWI

10-Year Notes (Intraday)
Posted On: Jul 31 2008 2:06PM ET / Jul 31 2008 6:06PM GMT
Last Price: 114-295

[SEPT NOTES]

[Resistance]: 114-315/115-000, 115-045, 115-120
[Support]: 114-205, 114-160/130, 114-085, 114-040

Still expect a reversal to 114-215 in wave 4. Allow to 115-045. ...RNG

Treasury Bonds (Intraday)
Posted On: Jul 31 2008 1:10PM ET / Jul 31 2008 5:10PM GMT
Last Price: 115^24

[SEPT BONDS]
[Resistance]: 115^23, 115^255, 115^30/305, 116^03/06, 116^10
[Support]: 115^19, 115^135, 115^10, 114^315, 114^245/225

No change. We need an up-down-up sequence to new highs before a sharp drop to the 115^06 area. Support is 115^18/14. ...RNG

10-Year Notes (Intraday)
Posted On: Jul 31 2008 11:54AM ET / Jul 31 2008 3:54PM GMT
Last Price: 114-300

[SEPT NOTES]

[Resistance]: 114-315/115-000, 115-045, 115-120
[Support]: 114-205, 114-160/130, 114-085, 114-040

Now we have the minimum wave structure in place on the hourly chart to label wave 3 at the high. Ideally, however, I'd like to see wave v of 3 continue to 115-020 where we'll expect a reversal to 114-215 in wave 4. Allow to 115-045. ...RNG

10-Year Notes (Intraday)
Posted On: Jul 31 2008 11:11AM ET / Jul 31 2008 3:11PM GMT
Last Price: 114-245

[SEPT NOTES]

[Resistance]: 114-315/115-000, 115-030, 115-120
[Support]: 114-205, 114-160/130, 114-085, 114-040

No change. We still need to see a new high, then a down-up sequence to finish wave 5 of (c). Allow to 115-030. Thereafter, a drop back to 114-080. ...RNG

Treasury Bonds (Intraday)
Posted On: Jul 31 2008 10:09AM ET / Jul 31 2008 2:09PM GMT
Last Price: 115^26

[SEPT BONDS]
[Resistance]: 115^23, 115^255, 115^30/305, 116^03/06, 116^10
[Support]: 115^195, 115^135, 115^10, 114^315, 114^245/225

Here's the other count we've been following, where we need a couple of up-down sequences to new highs before a sharp drop to the 115^06 area. Support is 115^18/14. ...RNG

10-Year Notes (Intraday)
Posted On: Jul 31 2008 9:19AM ET / Jul 31 2008 1:19PM GMT
Last Price: 114-270

[SEPT NOTES]

[Resistance]: 114-315/115-000, 115-030, 115-120
[Support]: 114-205, 114-160/130, 114-085, 114-040

The thrust out of the triangle* is underway. We need to see a new high after 9:30am, then a down-up sequence to finish wave 5 of (c). Allow to 115-030. Thereafter, a drop back to 114-080. ...RNG
*Waves d and e are in the right position but the wave structure of wave d suggests the rally begins at its origin.

Treasury Bonds (Intraday)
Posted On: Jul 31 2008 8:40AM ET / Jul 31 2008 12:40PM GMT
Last Price: 115^21

[SEPT BONDS]
[Resistance]: 115^23, 115^255, 115^30/305, 116^03/05
[Support]: 115^08, 114^315, 114^245/225, 114^10/095

Good morning. This seems like a good time to show the alternate bullish count in the 120 minute time frame. This shows a third of a third wave in progress to 116^03 and implies steady gains over the course of the morning with only minimal fourth wave pullbacks of single or double bar degree, i.e. 2-4 hours. ...RNG

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