Marabuzo line supports T-Notes

The relevance of a Marabuzo line can be seen from last week's price action in T-Notes.
Last week's move to new contract highs was the 4th positive week in succession. Because gains were exceptional a Marabuzo line could be drawn coming in at 132-14.
The move did leave the market over-extended and this,unsurprisingly, led to some profit taking this week. 132-14 could be expected to attract buyers and this is exactly what we've seen with the market reaching only 3 tics below before buying interest was renewed.
A net minor decline may have been posted on the week but the usefulness of Marabuzo lines can be clearly seen.