It took just over three weeks to form a swing low, which happened on Monday with the big day up for bonds.
The daily bond cycle peaked on the next day, which was day 16.
Since Friday formed a swing low off the Thursday candle, bonds just may have printed a daily cycle low on Thursday.
Bonds would need to break above the day 16 peak of 119.67 to confirm a new daily cycle.
February was month 11 for the yearly bond cycle.
Bonds printed a lower monthly low in February.
Bonds are in the timing band to print a yearly cycle low.
As noted above, bonds need to break above 119.67 to confirm a new daily cycle.
Breaking above 119.67 also forms a monthly swing low.
Bonds would still need to break above the declining yearly cycle trend line in order to confirm a new yearly cycle.
But the odds are pretty good that a break above 119.67 will mark a new daily and new yearly cycle.