Adjusted on: 8/25 NOTE: FINANCIALS: DEC IS LEAD MONTH ON FRIDAY 30-Year Bond: We’ll see just how “in control” the bulls are getting if they can get price to – and maintain – 132.16. 132.19 is virtually the “same price” but there will be stops above there and thus give the bulls further control. I’m still bearish on the sector – with the initial bond target 128.18- but the bears need to take out 130.00 in order to start to re-focus on that move.
10-Year Treasury Notes: The bulls start to re-gain some control by taking out 125.175 and especially 125.22 (22 DOES lend resistance)…Trade thru 124.015 lets 10s go after 123.07.
5-Year Treasury Note: Weakness needs to re-test 119.28_2…there IS support there – but remember: the sector is bearish. The bulls get a bit more going above 120.235 – but I feel 120.315 is a solid first-touch fade. S&P500 Stock Index: The bearish bias we’ve head on SPs is OFF with trade at 1680.25…and taking out 1671 will let prices pressure 80.25.
| SEPT BONDS | SEPT 10s | SEPT 5s | SEPT SP500 |
| 133.07 pivotal | 125.29* | 120.315 major |
1687.25* |
| 132.19 pivotal | 125.22 watch | 120.235 pivotal |
1680.25 pivotal |
| 132.16 target | 125.175 pivotal | 120.17_7* |
1671.00 pivotal |
| 131.31* PIVOT | 125.065* | 120.095* PIVOT |
1667.25* 1662.25* PIVOT |
| 131.20 | 124.28* PIVOT | 119.28_2 pivotal |
1656.25 |
| 131.11* | 124.015 pivotal | 119.19 |
1650.00* (chop) |
| 130.00 pivotal | 123.24 |
1636.50 pivotal |
|
| 129.15 | 123.07 pivotal | 1628.00 target |
