10/3 Friday ... Found a Bottom? (graph)

On our live stream beta this morning (oh yes, it's coming folks!), we drew the following trend channel at 9AM eastern. (email info@mortgagenewsdaily.com with MBS in the subject for more info).

The price curve hasn't broken through either side since then until just now. You can see this in the graph below.

Feel free to google search "trend channels" "technical analysis" for some background. But it's a simple concept. Once the line breaks through an established trend line, it's more likely to stay on the other side of that line than it is to cross back over.

remember that techs are not very accurate in and of themselves when it comes to predictive value, especially when it comes to volatile headline events being present as we have today.

So our focus is on House Debate and the vote this afternoon.

But when techs and fundamentals are in agreement, THAT'S when we start to have a decent level of predictive value.

(again, if you want to learn more about the live data beta, email info@mortgagenewsdaily.com, subject: MBS)