Adjusted on: 9/26 US 30-Year Bond: If the stops get taken out, bonds will make a run at 135.05. (Trade thru 135.05 targets 136.02). As long as the stops stay intact we need to respect the bears for a move to 132.15.
10-Year Treasury Note: We CANNOT fade above this pivot – trade above it needs to be favored for a run thru 126.145 to 127.095. IF the bears hold the pivot they’ll go after 125.11 and likely the yield.
5-Year Treasury Note: Like 10s, do NOT get caught short above this pivot – 121.12 is just the first target. If the bears hold the pivot, they’ll target the yield.
S&P500 Stock Index: We’ll still favor the bears below this pivot; 85.50 has been tough but it is THAT loss that lets SPs unwind down to 72.50. Trade back up thru the pivot can go after 1719 (first-touch fade).