"The state of Pennsylvania has stepped in to help its capital city Harrisburg avoid a default by advancing next year’s state aid so that the money can be used to make a $3.3m bond interest payment due this week." I guess that was good enough to boost the futures. Pull it forward. How long can this continue. I'd guess another year max.Folks, this is a GO bond. "The $3.3m payment due on September 15 is an interest payment on the city’s general obligation bond sold in 1997. Such municipal debt is sought out by many investors in the $2,800bn US municipal bond market because the GO bonds have a reputation as being safer than many other types of bonds."
Minis up 7.5 already! Obviously still in a tussle with that blue upper resistance line we've been looking at all week.
Say what you want. Post what you will.
Remember 9/11.
TNX daily - Channel breakout?
SPX 60m - Topping here. Follow the black support lines under the indicators and see where they are running out of room. This works well with the daily indicators that are close to meeting the minimum topping requirements I have. POMO Monday and no real economic data till Thursday.
I'm still thinking ABC and not 2 of 3 despite the topping dailys. Maybe this is my conservative nature or my fear of manipulation. The weeklys are indecisive. Either count is possible and the form of the pullback will tell us what to expect. Impulsive - we get thru 1000 - if not - 92 to 80 pullback for B then up to the mid 20's. Consolidation into November is another option and the upper diagonal for that may not be set yet.
