Comments: US 30-Year Bond: The pivot is still important – but I’ll still look to buy a dip to 134.07 – I think the bulls have some control now and will want to see what’s up there at 136.06. 10-Year Treasury Notes: Strength can leak up thru 127.16 (GOOD resistance there) and print 127.21 – but keep in mind the whole area could be a fade.
The key up-top is who controls 127.25. It’ll be tough to trade 126.125 but if the bears take that level we’ll need to look for 125.315. US 5-Year Treasury Note: I’m leaving the levels kinda wide still…strength – especially thru yesterday’s high – should be given a chance to test 122.055. Trade will be weak below 120.225. S&P500 Stock Index: We’ll give the bulls a chance to keep pressure on 1684 as long as they can hold this pivot. Trade above 1684 targets 1711. Weakness at 1654.75 is pretty bearish.
