Tuesday, August 7, 2012
Did we see a major Interest Rate Bottom and Bond market High?
The weekly Bond markets Interest Rates saw a regular 93 week cycle major Low (and Bond High) at the 7/25 Low at 24.52, piercing below the double bottom at 25.10-25.19.
The weekly Bonds are in a descending triangle and needs to close above it at 29.70 to be bullish. A solid breakout above the descending triangle would confirm a major Interest Rate Bottom and Bond market High is in place, until then, we can still fall back to lower Interest rates.