Adjusted on: 9/9 US 30-Year Bond: Monday provided some trade – but no new info…no hints at “next direction”…if we’re going to get movement before the President talks Tuesday nite it’ll be above 130.06 (which gives the bulls better control and lets them test the yield) or below 128.13 (with will target support at 127.01.
10-Year Treasury Notes: Until the bulls control 123.30 – and it may take 124.15 – or the bears take trade thru 122.07 we’re just in a trading market. (Trade thru 122.07 will go after 121.245 and 121.15).
5-Year Treasury Note: Note that bonds settled well below their key price (130.06); 10s settled virtually on theirs (123.11) – and 5s are above their key price (119.01) – certainly a mixed bag and should remind us to be a bit cautious and let trade unfold. Bulls do best above 119.16-18_2; bears back below 119.01.
S&P500 Stock Index: The bulls are building in some nice support – but it is still BEST for them if they can hold this pivot. Taking trade up to 86.25 removes the “big picture” sell bias. The bears need to defend the highs and THEN take trade back below 1649.50.
| DEC BONDS | DEC 10s | DEC 5s | SEPT SP500 |
| 131.18 major | 124.245 target/resist | 119.285 pivotal |
1705.20 highs |
| 131.03* | 124.15 buy | 119.18_2 major |
1686.25 pivotal |
| 130.25 3.75%? | 123.30* target | 119.16 target |
1671.50 Monday hi |
| 130.20* | 123.20* | 119.125* |
1667.25* PIVOT 1661.25* |
| 130.06 pivotal | 123.11 PIVOT (true) | 119.07* PIVOT |
1649.50 pivotal |
| 129.24* PIVOT | 123.025* | 119.01 pivotal |
1638.00* |
| 129.10* | 122.25* | 118.28* |
|
| 128.28 | 122.16 | 118.21* | |
| 128.13 watch | 122.07 pivotal | 118.13 pivotal | |
| 128.00 | |||
| 127.18 |
