Adjusted on: 9/29 US 30-Year Bond: Until bonds take out either 135.04 or 129.00 we’re just “in a range”…the bears held control on Friday so until trade can move thru 133.23 we need to consider that. Trade up thru 134.13 will go after 136.03. The bears need the yield and especially 131.02 to add to positions.
10-Year Treasury Note: Trade up thru this pivot seeks 127.10 ; continued strength there goes after 130.07. Downside, the bears can add to positions below the yield and 124.11 with a likely bounce at 123.18.
5-Year Treasury Note: 121.125 WILL be a first-touch fade – but trade above this pivot will WANT to see what’s at 121.18. Trade back thru 120.20_7 can fall to the yield AND 120.01 (another fade).
S&P500 Stock Index: If the bulls can re-claim 98.75 we need to give them the chance to test 1722 (we can fade 22 first-touch); trade thru the lows targets 73.75 and if the bears maintain control there they can go after 1651.