January 31st Mortgage Market Wrap-up 3

Mortgage backed securities (MBS) closed even today at 103.25 having surged up to within 10 basis points of resistance offered by the 200 day moving average before falling back to close 28 basis points below.  the Japanese candlestick for today is called a "high wave" candle.  "high wave" candles usually portray uncertainty in the market place.  That is certainly logical today as traders are somewhat frozen in a quandary in advance of tomorrow's jobs report.  The 30 year conforming was at 3.625% today.