The US Treasury Bond futures are forming another large wedge. You can see what happened after the last large bond wedge formed and broke its resistance upward. Also notice how the second valley is occurring at a new, long awaited, all time high. The bond wedge in Oct 2019 formed its 2nd trough as the SPY was breaking a long awaited new all time high too.
Not many trade the ultra bond because of its volatility, but our systems noted over extensions within the 225 area and we have now seen a pull back to the breakout point of 222. Interesting technical set up right now defined by our two trend channels.
The UltraBond Future leading the way today in fixed income futures. With equities outperforming over the last few months, its safe to say the bonds have held up pretty well. Now the long end, the Ultra Bond seems poised for a continued ascent bolstered by the 50eMA
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This is not a Squeeze, it is a true market trend. Possibility of seeing the market ranging in the lower area of Andrew's Pitchfork zones which acts all as true resistances.
Beware, possibility of pullback on the actual price. High possibility also of...