"I know that trend lines do not really play a part in the Fullermoney methodology. However, from what I read they do seem to feature in the trading analysis of many, not to mention the secret algorithms of high frequency trading systems. With that said, I wonder whether the 5 year weekly chart of 30 year US Treasury Bills (attached) is worthy of comment. I send this to you in advance of today's non-farm payrolls data. It will be interesting to see how this plays out."

Eoin Treacy's view Thank you for this interesting chart and congratulations on your timing. Your chart illustrates our contention that government bonds have become very overextended in a very short time. The rate encountered at least short-term resistance in the region of 135 today suggesting at least a pause and consolidation may be getting underway.