Comments: US 30-Year Bond: Trade up thru the pivot (134.19) can go after the stops – and 135.28. There IS resistance at 135.28 but that is also the price that allows for a strong rally (to seek 136.29). The bears now need to control 133.08.
10-Year Treasury Notes: We need to respect strength – especially up thru the noted highs – for a move to 127.165 and 127.23. (I think we’ll get a first-touch fade at 127.165; longer –term, bull-control of those prices (165-23) is bullish. Bears need the pivot just for starters.
5-Year Treasury Note: Although the bulls are doing some good work (getting trade above the pivot) they still need to take out 121.255 – which is resistance but also the trigger for a run at 122.055. (further out, a hold above 122.055 lets trade test 122.26) Trade will be weaker (and solidly bearish) back below 121.05_2.
S&P500 Stock Index: Weakness seeks 1670.50; support at 1667.25 SHOULD give us a trade – but keep that target at 53.75 in mind once we’ve completed the trade. As for the upside, we need to see either successful HOLDS of the pivot once back above it – or new highs. (There’s a target at 1739.75)
| SEPT BONDS | SEPT 10s | SEPT 5s | SEPT SP500 |
| 136.05 major | 128.075* | 122.055 major |
1724.00 |
| 135.28 pivotal | 127.23* target | 121.255 pivotal |
1705.20 highs |
| 135.19 stops | 127.165 pivotal | 121.185* |
1690.25 PIVOT (true) |
| 134.19 PIVOT (true) | 127.10 recent highs | 121.125 PIVOT (true) |
1686.20 sl |
| 133.31* | 126.29 last week hi | 121.05_2 pivotal |
1670.50 rec lows |
| 133.19* | 126.225* PIVOT | 120.315* |
1667.25* |
| 133.08 pivotal | 126.155* |
1653.75 target |
|
| 132.29* | 126.015 pivotal | ||
| 132.19* | 125.205* | ||
| 132.08 3 ¾%? | 125.065 pivotal |
