Steepest In Two Years
T-bonds
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PowerRating)Â are continuing their steepest descent in
two years and have retraced to just above the 105 5/32 area, the 50% retracement
area specified in last night’s Futures Traders Report. We should see a
reaction up from here.Â
In volatile trading, pork is down sharply again. February 2002 pork bellies
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PowerRating)
had setup a
Turtle Soup Plus One
Sell
for today and provided entry by trading above yesterday’s highs before
cascading, now down 1.250 at 74.00.
March cocoa’s
(
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PowerRating) gap up opening to match an eight-month and
contract high nullified the theory that it would retrace its parabolic run.
Notice how this Momentum-5
market continues to make good on Off The Blocks
openings.Â