Comments: US 30-Year Bond: Trade up thru 134.15 can go after the stops – and do NOT get caught short above 135.27. Best case scenario for bears NOW is to get to – and control – 133.09.
10-Year Treasury Notes: It won’t be easy to trade this pivot – it’ll chop. Although the 2 ½% up-top is obviously significant, I feel the bulls must control the area of 127.12- 127.24 and will look to fade 127.165 at a minimum.
5-Year Treasury Note: I set the pivot at .185 because I want to give us the chance to work the sell-side – but of course the bears better get trade back below 121.13. All that said, the moves still come above 121.255 ( targets 122.055 – a first touch fade) or below 120.20…. S&P500 Stock Index: Strength – especially thru the highs – seeks 1719.25. Trade below 1685.00 seeks 1669.
| SEPT BONDS | SEPT 10s | SEPT 5s | SEPT SP500 |
| 135.27 pivotal | 127.24* | 122.055 major |
1719.25 pivotal |
| 135.19 stops | 127.22 target | 121.255 pivotal |
1705.20 highs (sc) |
| 134.15 resist | 127.165 pivotal | 121.185* PIVOT |
1686.25 PIVOT (true) |
| 134.00 PIVOT | 127.12 watch | 121.13 keep watching… |
1668.50 pivotal 1661.00 scalp sell |
| 133.09 target | 127.01 2 ½%? | 121.00_2* |
1654.25 target |
| 132.28 3 ¾%? | 126.23 PIVOT (true) | 120.20* bears need | |
| 131.27 pivotal | 126.01* | ||
| 125.20 | |||
