Adjusted on: 6/30 30-Year Bond: This pivot is a very significant price – once the bulls take it out (IF?) it opens up a run to
139.24 and 140.16. Rejecting the pivot certainly keeps the bears in the game – but then they need to reclaim 136.02.
10-Year Treasury Note: The key for the bulls is to take out 125.195 – virtually NO resistance there and they can then go after 126.06
(fade). Downside, the key is 124.21 – solid support – but also the price where the bears can gain a measure of control.
5-Year Treasury Notes: Control of this pivot WILL help us with longer-term direction; 119.26 DOES have some resistance – but I
view it more as the trigger to get a test of 120.14 (fade). Downside, bears gain MORE control below 119.06_2.
Index: The pivot SHOULD be choppy; perhaps waiting for new highs will be easier (both 64.25 and 77.75 are targets and
potential fades). First weakness comes below 38.75 and be VERY careful about getting caught long below 34.50.