Adjusted on: 8/21 US 30-Year Bond: Jackson Hole is an unknown on the heels of the FOMC mins…remember the big picture is still bearish and it’ll take some type of trade above 132.18 to begin to alter that… keep tabs on the downside target – especially on trade thru the lows.
10-Year Treasury Notes: Weakness – especially thru 124.135 (NO support there) has no meaningful target so pay attention to bond/5yr targets… (too much talk about 3% so kinda doubtful THAT’s it)…Upside, bulls need 125.235 just for starters…
5-Year Treasury Note: Weakness seeks 119.26_7. NOTE: Continued weakness there can drop a point. Bulls need 121.00 just for starters. S&P500 Stock Index: If the bears can take out 1629 it lets them go after 1611.75 – and a failure there points to 1553.50. The bulls need to get trade above 1670.
