Comments: US 30-Year Bond: Wednesday was a decent trading day but we’re back to looking at KEY prices: the pivot IS directional – and if the bulls take it they then need to control 134.24-30. Weakness targets 132.07. 10-Year Treasury Notes: We still need to contend with –and avoid getting chopped at – this pivot…weakness will want to test 126.00 and I would expect 125.22 (be careful with the 126.00 fade)…Strength seeks 126.245; a bull-hold there can then go after the yield. 5-Year Treasury Note: Note the pivot is directional; 120.22 is the target if we get weakness – but 121.00 is SOLID support (I’ll likely fade that)…upside, the bulls still NEED 121.255. S&P500 Stock Index: The bears defended their stops on Wednesday and will now want 1667…trade can break HARD if they maintain control there. Trade thru the highs targets 1714.25.
