Tuesday, January 20, 2009

Treasury Tuesdays

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On the year long chart notice we're still in bubble territory; investors are still looking for safety and are finding it in the Treasury market

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Notice the following on the daily chart

-- Prices have not yet rebounded to the 38.2% fibonacci level

-- The SMAs are sending a mixed signal; the 10 is below the 20, but the 20 has just turned lower.

-- Meanwhile the 50 and 200 are moving higher

-- After prices sold off, they did not reach the previous highs