![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjU-2kEOfyZazcX_ZEjvLinIdUPihQ2ynA9G4Y1fyUrI6wz-5K1lyDcBPCfR0NkV81jlku5u5u9Q6-5-efouxd904QA51zetBLMOShTeHH8_KAZRkVWNUROLD61s55j_ee6RFV3NvX_0M0/s400/Chart+of+IEF1.gif)
Note that the IEFs (the 7-10 year Treasury Bond market) rose to the 50% Fibonacci retracement level before hitting upside resistance.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiUB4Ik3q4DUQIt-GpRTRJI7-NMOtD2Aub6CHjUFdgK63mDGsfLe_5d6JLMv8J6OmwNU_rRKmZd-TTi2A_Gu2MKzytX9LyghORmwDx7P6zw1Gnt6INQS0js9iCuC8kj_O0EGb1zXygpPDk/s400/Chart+of+IEF2.gif)
A.) Note the EMA picture is very confused. All the shorter EMAs are in a tight bunch with no clear direction - none. While prices are below the 200 day EMA, they have been moving around it without making a firm move in one direction or the other.