Friday, July 24, 2009

No Follow-Through on Treasury Rout

I have been disappointed that treasuries haven't continued to drop today after yesterday's sharp sell-off! It appears that we are trapped at the same support level that we reached in the past few days (see daily chart). At least we haven't seen any significant rebound either! We're in a tight trading range!

IntradayDaily - note dotted line that represents support/resistance zone!