The daily bond cycle peaked on day 18. A swing high formed on day 19. Bonds broke below the daily cycle trend line on day 20, confirming the daily cycle decline.
The past two days we can see that bonds have found support along the 50 day MA. Day 20 is right in the heart of the timing band for bonds to print a daily cycle low. A break above 131.48 forms a swing low. Then a break to a new high will confirm the new daily cycle.
Cycle Trading 
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