
Chart 10 -The TBond market has a 21-week primary cycle. The  ‘W’  shows  theweekly cycle tops and bottoms in the chart below. The  arrows  identify  theseven daily trading cycle tops and bottoms on both charts. When  the  weeklycycle is up the trend of the daily cycle is clearly up.  And as  the  weeklycycle is rising, each daily trading cycle tends to have a higher  cycle  topand a higher cycle bottom than the previous trading cycle.