We were stopped out of our bond trade today by 1/32 of a point for a tiny loss. I still like the bonds though and if you can re-enter at 175 on the 30 yr note I think you will be rewarded.
Sometimes it helps to bring clarity to a chart by looking at a weekly chart instead of a daily chart. The spike in price today was capped at the 10 week moving average. The spike also gave us a weekly swing low during a time when price is at the most oversold level of the year.
So I think price became short term overbought today and needs a few more days to allow the 10 day moving average to turn higher.
If you lost your position today I would encourage you to try again.
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