Web Statistics Bonds Building - Market Still Tired

Wednesday 26 September 2012

Bonds Building - Market Still Tired

Well another red day on the market as we hinted at in the ( VIP ELITE GROUP HERE )

After a few weeks of bonds being very messy, alot of the bonds traders are jumping for joy as the chart has cleaned up a bit. Have a look at the weekly chart on BONDS below. It seems to be forming a bullish flag at the moment. It has not broken yet, and is only "looking" like a bullish flag, because it must break out of this pattern first for more buying to come in. That will put even more pressure on the market.



With the strength in bonds, the market (nasdaq) has now broken out of its upwards channel and the bottom resistance line, and continued down today on WEDNESDAY. If we look back it is obvious that we have not see 3 or 4 down HEAVY down days in a row, so my guess is that the bears still have the upper hand, but there will might be some sort of bounce coming, but we will probably have to wait till next week to see this happen, and also see how bad the bulls want it! :-)


The sentiment right now is still with the bears, and our breadth indicators are confirming that. Happy trading :-)

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