Every time it looks like this market is going to turn we are getting support from the invisible hand (see previous articles). Amazing to see all the 800-1300 orders firing into this low volume buying. It looks like they really want the american public to buy in and are showing their support for this market.
We can see a tremendous increase in the number of bonds pushed out. This is killing the price as major buyers like the Chinese and Korean pension funds are pulling back and decreasing their purchases. Even though the Yuan is tied to the dollar, the chinese are buying less and less.
Point of control is 904.75 watch approach to 898 area as this area of support is where the fed has been feeding the market.
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