This breakout trade out of the December range (rectangle)to the downside to the lows set back in March has been even better then expected but as we approach those lows it is decision time again. Because I have good trade location I am going to hold the short position even if we get an immediate term bounce. I am watching to see if we can hold below 169'00. If we can the downtrend is still intact. How price reacts here at 167'00 will be interesting to watch though because if rates are really going to rise this time, the down move could be strong if we can make it below 167'00. Despite the FED and the economy not fully being open, bond yields are certainty indicating inflation for now.
