Good Tuesday AM,
Bonds are up on the day and the upward trend resumes. Mortgage bonds did close just below the 50 day moving average, but this morning we are above it. A close above the 50 MA is very bullish and I think this is where we are headed. The chart has formed a near perfect bullish pattern. We do need to close above the 50 day moving average for the pattern to play out. I would say to continue to ride this trendline forward; just be sure we do not close below the upward trendline or it is time to lock.
Please remain safe and healthy, make today great!