30-Year Bond: Here are the more important levels in the market: taking out 134.29 lets bonds begin a run to 126.00 (!) 132.20 is a fade and the next most important price on the downside. Up-top, 135.28 still needs to be referenced for direction; I still think trade thru 136.11 goes
after 137.09 and especially 137.19. 137.19 is the “big price” up top. ABOVE 138.10: 138.27pivotal;140.05pivotal. Besides
fading 137.19 I like 138.10 and 138.27 for fades.
10-Year Treasury Note: BELOW 122.09 are 122.01target and 121.16major. NOTE: Trade THRU 123.015 (a fade) projects to 120.00. Up-top, key off 124.205; the “long” above 125.18 should get to 126.09. ABOVE 126.115 is 126.28target/watch.
5-Year Treasury Notes: ABOVE 120.03: 120.08*, 120.15pivotal /fade. ). (Trade thru 119.24 SHOULD test 120.15). EVERY price from 118.195 thru 119.145 is significant; they all could be fade-able…but they all are keys to the “bigger picture” too (Trade below 118.105 targets that 117.02)
S&P500 Stock Index: BELOW 1891.75: 1885target/support, 1877.00pivotal, 1864.50*. Downside, it’s MOSTLY about who controls 1934.50 and 1928.75. I’d REALLY avoid getting caught long below 1917.25. I’m bullish – but I still set a higher pivot…1971.25 is a first-
touch fade; you can make a case for a test of 2036.25 and there’s actually a target at 2063.
