Bonds formed a swing low on Monday.
The rally out of the day 27 DCL low saw bonds close above the upper daily cycle band to establish a daily uptrend. Bonds became stretched above the 10 day MA on day 11, formed a swing high on Wednesday then continued lower through Friday.
Bonds formed a swing low and regained the 10 day MA on Monday. A close back above the 50 day MA will indicate a continuation of the daily uptrend and signal a cycle band buy signal. I believe that the longer term intermediate and yearly cycle lows also formed as well, which I plan to discuss in the Weekend Report.