Looking at the Bond Spectrum, we can see we are approaching extreme overbought conditions, but this isn't me advising you to sell. In a bull market you fade the rallies not sell them. When I go back in history and look for similar setups, I can see these were nothing more than starting points for higher prices. If this were a bear market I'd advice you to sell at these levels, but it's not so I'm keeping my advice from the last Spectrum report.
"My overall impression is this chart is getting toppy, if I were in I'd stay in, and pick your "exit price." If I were out I'd stay out looking for a bounce off the bottom trendline in the first week of July. You might also consider an entry at 106, this would be a 50% retracement off the current 107.51 high wave. "
I don't advice using a precious IFT to make an entry into Bonds this early in the month, here's why. From a recent thread "Here's my honest opinion on the F-Fund and perhaps it's a good rule regardless of its trend direction. I wouldn't burn an IFT to enter the F-fund period. Now if I had an IFT and was about to lose it in the last week of the month, then I'd consider it. But I'd hate to accept the additional risk of the F-Fund over the G-Fund, and use an IFT in the process. I say that knowing that I've played the F-Fund more than most here have, so this is JMHO."
The last thing I want to say is when I make recommendations they are just that. They aren't written in stone, they are flexible, and ever-evolving as price reveals its true intentions. I say this because there are times when I don't follow my own advice. This doesn't make me a hypocrite, it makes me someone who is adaptable to a constantly changing environment.
Take care and trade safe...Jason
"My overall impression is this chart is getting toppy, if I were in I'd stay in, and pick your "exit price." If I were out I'd stay out looking for a bounce off the bottom trendline in the first week of July. You might also consider an entry at 106, this would be a 50% retracement off the current 107.51 high wave. "
I don't advice using a precious IFT to make an entry into Bonds this early in the month, here's why. From a recent thread "Here's my honest opinion on the F-Fund and perhaps it's a good rule regardless of its trend direction. I wouldn't burn an IFT to enter the F-fund period. Now if I had an IFT and was about to lose it in the last week of the month, then I'd consider it. But I'd hate to accept the additional risk of the F-Fund over the G-Fund, and use an IFT in the process. I say that knowing that I've played the F-Fund more than most here have, so this is JMHO."
The last thing I want to say is when I make recommendations they are just that. They aren't written in stone, they are flexible, and ever-evolving as price reveals its true intentions. I say this because there are times when I don't follow my own advice. This doesn't make me a hypocrite, it makes me someone who is adaptable to a constantly changing environment.
Take care and trade safe...Jason
