Adjusted on: 10/9
Comments:
Bonds: Until the bulls do something with 149.18, I’ll be careful with the long-side. Weakness targets all 3 pivotals.
10s: The REAL keys here are 132.09 (trade below targets 131.26 and 131.175 pivotal) and 133.29 (if the bulls
maintain control, 135.00 is in play). If we get volatility off the auction or Beige Book, take direction off 132.24 –
not the pivot.
5s: Don’t get caught long below this pivot; the move will target 123.31. The pivot DOES give direction – and note
the upside targets (especially on trade thru 124.25).
SPs: Trade below this pivot moves to 24.50; continued weakness at 24.50 seeks 1387 and lower. (downside, I see
15.50 as the only fade). Rejecting the pivot keeps the bulls in the game.
|
DEC BONDS |
DEC 10s |
DEC 5s |
|
150.09 pivotal |
134.12 target |
125.105 pivotal |
|
149.28 pivotal |
133.29 can bulls hold? |
124.305 target |
|
149.18 target/bulls hold? |
133.25 pivotal |
124.25 lean long above |
|
148.31* |
133.12 |
124.18* |
|
148.04 PIVOT (true) |
133.07* |
124.11 PIVOT (true) |
|
147.09* |
132.31* PIVOT |
124.05* |
|
146.29 target |
132.24 watch |
123.31 target |
|
146.13* |
132.165* |
123.235 target |
|
145.31 pivotal |
132.09 pivotal |
123.19 pivotal |
|
145.21 pivotal |
132.015 |
|
|
144.18 pivotal
|
131.26 target |
|
|
DEC SP500 |
|
|
1477.50 pivotal 1467.50 watch |
|
|
1455.50* |
|
|
1445.25* |
|
|
1431.25 PIVOT (true) |
|
|
1424.50 short below |
|
|
1415.50 pivotal |
|
|
1408.00 target |
|
|
1397.00 bulls in? 1387.00* |
|
Economic Calendar (all times Central) Expected Last
9:00 Wholesale Inv. .5 .7
noon 10YR Auction
1:00 Beige Book
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