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Is The 30 Year Ready For A Bounce?

ByDan Faretta
Published 02/18/2015, 09:26 AM
Updated 07/09/2023, 06:31 AM

Since October of last year the US 30 Year T-Bond rallied 15 handles up to 151. Since February the market has pullback about 4.5 percent to the 144 level. That is a very nice, healthy pullback in a strong up trend. The support that the market is holding right now, is right at the 100 period moving average. This level is the line in the sand for a lot of hedge funds and large mutual funds. If the market gets a strong close below this level, you could see some strong liquidation down to 139. Another factor to keep an eye on is the declining volume as this market has pulled back. A weak pullback usually loses volume as the market approaches support, this is a positive sign that a bounce is in the cards.

If a bounce does occur how far could it go, to the old highs? Well, that is something that will have to be monitored on a daily basis, for an initial target I would use just above 146. If the market gets above 146 then you can target the 150 level.


30 Year Bond

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