Ultra bonds completed a head and shoulder top two weeks back. I am very suspicious of weekly chart patterns that span many years.
I may open a small short position next week. I will be looking for a bearish candle to form somewhere between the 180 to 184 mark.
The tepid rally in US bonds from the war in Ukraine was interesting. My personal opinion is US bonds put in a top that we will not retest for a long time.
I still have a small short position left in the 10-year. My stops will be closely trailing the 14DMA.
