Adjusted on: 10/18
Comments: Bonds: I’ll try to AVOID trading between 146.16-09. Trade above 146.16 takes sell pressure off the market. Trade is MORE bearish below 146.09 and will test 145.02. 10s: Until the bulls get trade above 132.16 we need to favor the sell-side. (132.26 is also very important for market direction). Trade is very weak below 131.18; a failure of 131.10 (watch for a bad chop there) targets 131.025. 5s: Until the bulls get at least 124.105 we need to favor the bears. Weakness WANTS to print 123.085; be careful fading 123.18. SPs: NOTE how across ALL markets the pivots didn’t really change… continued weakness at 1436.50 -or a hold below 41.50 AFTER printing 36.50 – is bearish. Give trade above 67.50 a chance to test 91.50. The REAL keys to the market are 91.50 and 1431.
|
DEC BONDS |
DEC 10s |
DEC 5s |
|
148.31 pivotal |
133.085* |
124.16_2 pivotal |
|
148.05 pivotal |
132.315* |
124.105* |
|
147.16 scalp buy |
132.26 pivotal |
124.045* |
|
147.09* |
132.16 pivotal |
124.00 PIVOT |
|
146.16 PIVOT (true) |
132.085* |
123.28 lows |
|
146.09 watch |
132.015 PIVOT |
123.205 target/watch |
|
145.19 |
131.26 target |
123.18 major |
|
145.02 pivotal |
131.18 pivotal |
123.085 target |
|
144.24 target |
131.10 pivotal |
123.07 pivotal |
|
144.07 pivotal |
131.025 bounce? |
123.04 short below |
|
143.28 pivotal
|
130.28 |
|
|
DEC SP500 |
|
|
1491.50 pivotal 1467.50 watch |
|
|
1454.50* PIVOT |
|
|
1441.50 sm pivotal |
|
|
1436.50 target |
|
|
1431.00 pivotal |
|
|
1421.00 target |
|
|
1410.00* target |
|
Economic Calendar (all times Central) Expected Last
9:00 Existing Home Sales 475 482
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