Bonds (ZB) Update, 2009.07.17

17. July 2009
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ZB Daily:  Interesting movement in bonds this week.  The movement seems to pointing to new lows in the future.  W4 came just short of the 1.618 resistance, which was also a .382 retracement of W3.

The chart shows the daily movement from the beginning on 2009.  I circled the first touches of each important extension of W1 (1.272, 1.618, and 2.618).  Each had a reaction.

Lesson

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