I was looking at the latest July bond yield curve for July prepared by Canon Asset Managers..it appeared to be flattening at the end...indicating a changing business cycle...if the T-bill rates continues to rise due to the recent tightening by CBK then the spread between T-bill and 10year bonds is gonna get choked...what that means banks will have to pay more interest on deposit resulting in increased interest expense...

After going through all counters online iam glad to learn that supply accrossboard is almost drying,signalling a +ve week.

The rates go up http://af.reuters.com/ar...s/idAFJOE77E08J20110815 hehehe banks will see dust this quater

Some fibo's for NSE projecting the likely rebound levels within the downtrend channel. The fibo assumes the pivot (4055) as the high of the rebound (100%) and the low is 3511.

Retracements - rebound levels

138.2% - 4262.80
100% - 4055
76.4% - 3926.61
61.8% - 3847.19 - Solid resistance starts from here upwards
50% - 3783
38.2% - 3718.81
23.6% - 3639.38

Extentions - downtrend targets assuming the slide continues

61.8% - 3174.81
100% - 2967 - At this index level, it will be total surrender!
138.2% - 2759.19
161.8% - 2630.81
200% - 2423
261.8% - 2086.81

I wanted to use today's closing price, but alas, it is not posted on NSE's site. I gave up on mystocks.co.ke as I stated last week since the last update was Aug 3rd (not the stock prices, the index).

Btw just seen from Alykhan's site that NSE index closed today at 3501.64. Still no update of the same on NSE and their twitter account is still on stale tweets back in Aug 5th.

3500... I can foresee the beginning of ATS morning and afternoon system failures...