BMH3

Bond Market Highlight #3

February bond market high is projected 3 days in advance and prior to sharp drop.

(COMMENT # 75)

UPDATED 19980212

COMMENT 1998-75

1. The .618 retracement of the 980112 high to the 980123 low is at 12221.

2. The breakaway gap formed by the high of 980116 and the low of 980114 runs from 12222 to 12227.

3. In trading hours, a 1.618 multiple of the move down from 980112 to 980123 occurs early tomorrow morning.

4. This move down lasted 62 trading hours (100 X .618).

5. The market then rallied 34 trading hours (FIB # = 34).

6. The decline to the 980206 low lasted 30 trading hours.

7. The 1.618 multiple occurs during the 38th trading hour off the 980123 low.

8. The 34th trading hour occurs the last hour today.

9. We knew the IDEAL structure was violated this morning when the bonds traded above yesterday's high.

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