Adjusted on: 10/29
NOTE: An e-mail I received from the CME at 3:09 CT 10/29 said SP (ES) will have the same schedule they had on Monday (eg close at 8:15 Tues morning). The email said the bond market will trade normal hours. Comments: Bonds: The pivot will give us direction – but I think the bulls need to get prices back above 148.31 (that lets them test 149.27-150.01)…the key down below is if the bears even TRY to take prices below 147.18. 10s: Although the bulls can re-establish SOME control above 132.25 they’ll do better above 133.085. Trade staying below 132.25 keeps the bears in the game – but THEY do better below 131.255. 5s: Let’s make the bulls take this pivot…rejecting it keeps the bears in the game; expect follow-thru at 123.22_2. SPs: The sell-off and carnage starts below 1395 and especially 1387.25. The bulls need to re-take 1415.50 and especially 1432.