Top Notch Trading: Afternoon Bond Update

Charts, Commentary, News, Technical Analysis
Good afternoon,
This future found its way to find new highs earlier on at today’s pivotal price 148.22.  The morning update stated the 148.15 price needed to be offered in order to enhance a rotation back to new lows.  However, that wasn’t the case when it made a last low at 148.16, tested that level several times in a 5 minute period and when it bid above the pivotal price, the early bias of seller beware stayed the course ascending steps to new highs along the way.  149.00 was the next new  high, followed by a low t 148.28.  New highs at 149.02 did find a trade under that last low, print 148.27, which  in turn held the pre-market  high of 148.27 as it took one last move at this time to find new highs by 1 currently at 149.03.  Falling short of today’s and fib level, 149.06, still is on the agenda, followed by the weekly fib at 149.17.  Charts need to readdress the pivotal price 148.22 in order to void any further upside for the remainder of the day.  Decision time heading into the noon hour……bias controlled by the long end.
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Tim Haefke (854 Posts)

Top Notch Trading offers a daily technical analysis for the day trader in mind. Tim offers a strategy that deals with volume, value, trend, retracements (Fibonacci), and psychological price objectives in the S&P Futures and 30-Year Bonds. As an active member in the MrTopStep IM-Pro Trading Room, he shares trading ideas and breaking market news live from the floor with our other professional traders and new traders eager to experience the power of collective intelligence. Join us today and get the edge only social trading can give you.

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