Comments: US 30-Year Bond: Trade up thru the pivot (134.16) can go after the stops – and do NOT get caught short above 135.27. Bears need to HOLD the pivot and get some pressure on 132.28.
10-Year Treasury Notes: NOTE: 10s settled at 2.587 in the cash – so it’s doubtful the 2 ½% is still near 127.01. We need to keep an eye out for it – but I still feel strength will want to pressure the area of 127.165-127.23. (Don’t get caught short above 127.23). Bears need to get trade back below the pivot…
5-Year Treasury Note: We need to respect 5s hold above 121.13 – and 10’s settle above their true pivot – and give the bulls a chance to take the sector higher. However, 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 – will still want to test 1722.50. Trade below 1684.50 is vulnerable to 1669.50.
| SEPT BONDS | SEPT 10s | SEPT 5s | SEPT SP500 |
| 136.05 major | 128.075* | 122.055 major |
1722.50 pivotal |
| 135.27* long above tho | 127.23 pivotal | 121.255 pivotal |
1705.20 highs (sc) |
| 135.19 stops | 127.165 pivotal | 121.185* |
1694.25 PIVOT |
| 134.16 PIVOT (true) | 127.11 watch | 121.13 PIVOT (true) |
1684.50 pivotal 1669.50 pivotal |
| 134.00 | 126.225 PIVOT (true) | 121.00_2* | |
| 133.07 | 126.01* | 120.20* bears need | |
| 132.28 3 3/4%? | 125.20 | ||
| 131.27 pivotal |
