You’d be crazy to call a trend change in Bonds, right? After all, they’ve been in an uptrend since 1981. Well I’m not calling a top in Bonds. But … we could see a little downtrend move over the next few weeks.
Rates are breaking out above cyclical Resistance on the daily charts of 5, 10 and 30 year Bonds. And on the price charts, we’ve just seen Professional up bars last week that are now being broken to the downside. This suggests the Pros were getting Short on the retrace and we’ll see some weakness – for a little while at least.
Good luck with your Emini trading this week.