Latest Support Failure in Bonds

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My bond obsession continues, and with good reason. We’ve just had our latest breach. And remember, next week is a big FOMC announcement, so that should shake things up. The important fact is that we’re now beneath a support level that has been in place for months.

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The failure of this range (tinted below) sets us on course for the next phase, which is to push prices down to the green horizontal I’ve drawn. A failure of that level will seal the deal and establish the trend for years to come. Let’s see if we can actually get there.

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