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.
