Bonds have rallied, but not to the extent that stocks have collapsed. ZN has validated our position that it would rally and fall, missing our level by 10 ticks or so. They are likely to range today, on account of the rally, and the fact that it's Friday. Watch 138'14 and 138'27, two Fibonacci levels.
The Kovach OBV is still pretty bullish, but the Chande has declined, indicating that this may be a good point of entry if you are long of bonds. The Elliott Wave suggests that we could have a correction down to the 61.8% or 50% Fibonacci level, however.
The Kovach OBV is still pretty bullish, but the Chande has declined, indicating that this may be a good point of entry if you are long of bonds. The Elliott Wave suggests that we could have a correction down to the 61.8% or 50% Fibonacci level, however.
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