Top Notch Trading: Noon Bond Update

Charts, Commentary, News, Technical Analysis

​Good afternoon,

The fundamental edge took shape when Mr. Trump started talking today leading to some big swings leading a move to new highs.

It shaped up like this….After making early lows at 152.410 this future bounced to test its opening tic of 152.23 stopping just short with a print at 152.22. The ensuing pull back found a higher low at 152.13 right when Mr. Trump came into the news. An immediate push to new highs found todays 2nd fib objective for a spot on high at 153.07. The edge did turn to a positive bias due to that news and when it followed with a last low at 152.22, it found that previous high that led to a higher low, which in turn held a test of the opening print, 152.23. There is a 10 year note auction due out at noon and with the current bounce that leads a move back to the current high, it appears all systems are ago to find next resistance at 153.21 and todays # price objective 154.03. Looking to see if the 10 year has any bearing today in front of a 30 year bond auction due out tomorrow at noon.

Top Notch

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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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