Bonds Trading Sideways: What's the Best Way to Trade That?
Bonds have traced out the *exact* range I spelled out for you Friday. Watch for some resistance 138'31, especially as more news of riots diffuses into the markets. The Kovach Momentum Indicators have been largely neutral. We are still in a sideways Elliott Wave correction phase, and this will likely continue unless the markets are convinced we are back solidly back to risk on. This is not likely going to happen today or perhaps even this week due to the social unrest in the US that is infecting the rest of the world.
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