30 Year Bond Futures
According to one source, the flavor of the popular ice cream was created in March 1929 by Joseph Edy’s business partner William Dreyer in Oakland, Ca . After the market crash of 1929 Dreyer and Edy gave the flavor its current name “to give folks something to smile about in the midst of the Great Depression. When I analyze the current structural evidence of the bond market I come the conclusion that market will soon need something similarly as tasty to smile about as the road ahead is apt to be extremely rocky. Going back to my previous article posted about a week ago which called a (a-b-c) bullish advance targeting roughly 147, one can now notice that the market currently sniffed out the terminating zone. In my mind nothing has changed to me that would alter my previous opinion that this location would mark an inner 4th wave high which would then trigger another 5 wave sequence decline. My first objective would be for a crack to +/ 144. A violation of this level should see a follow thru to roughly 138.15.
My analytical breakdown focuses on a blend of wave pattern recognition, long and short term geometrical extensions and momentum signal interpretation. Please feel free to contact me at Walsh Trading to discuss my insights into this or any market of your interest.
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