Adjusted on: 9/22 US 30-Year Bond: In order to change the market – to move it from the trading market it’s been lately – the bulls need to take out 132.15 – which allows for a run at 133.12 – or downside, the bears need trade thru 130.28 (targets 130.12 and 130.05. BOTH interest me for a fade).
10-Year Treasury Note: Strength – and keep the yield in mind – will want to re-test 125.285. As far as a trigger for higher trade, that’s 126.14. 124.30 lends solid support – but a failure will target 123.265 – which makes fades at 124.08 and 124.015 much riskier.
5-Year Treasury Note: As I moved in the curve the trade potential looks better. 120.04 needs to be considered “last support” here as a failure goes after 119.17. The trigger for higher trade is 121.11_7 – and that will be a first-touch fade.
S&P500 Stock Index: Although the pivot lends support, the upside is very suspect; the bulls need to at least get trade back above 17.25. Weakness WANTS to test 85.75.