30-Year Bond: Continued weakness at 134.10 is vulnerable to 132.20 (first-touch fade) and MUCH lower. If the bears hold 136.17 or 137.16 it keeps them in the game – but thru 137.16 brings 137.31 into play – and WHO controls 137.31 will be the whole ballgame.
10-Year Treasury Note: 2.50% last seen 125.045. If the bulls HOLD 123.30 that’s pretty bullish…and they also have solid support at
123.22 and 123.00….losing 123.00 brings 122.00 into play. Upside, the bulls need 125.19 (which projects to 126.09).
5-Year Treasury Notes: Downside starts with WHO controls 118.295; a failure there brings 118.195 and 118.11 into play…like
10YRs those are all solid support but if 118.11 gives way 117.04 is in play. Upside, ending up post-# above 119.15 will be
bullish – but then the longs need to take out 119.255.
S&P500 Stock Index: Strength seeks 1959.75 and while we can fade there, we must do so knowing 2038 is the blow-off top (!). Rejecting this pivot will bring profit-taking and that will increase with a loss of 1925.50 and again at 1899.75. LIKE 5s and 10s those ARE supportive and bull-holds of them certainly keeps the bulls in the game.