Adjusted on: 10/2
Comments: Bonds: There’s nothing to change here…this market is just trying to stay flat until it gets some news. Note the targets on trade up thru 150.09….to get true weakness the bears need to take out 148.04. 10s: Strength – especially up thru 133.29 – targets 134.29. Downside, the bears need 132.235. 5s: If we get strength, note there is a “pivotal” up at 125.26. The pivot will give us direction (keep that in mind on FOMC) with the bears doing progressively better below 124.11 and124.055. SPs: Remember: if the bulls can take out 1470.50 it brings 1526 into play.
Downside, trade below 1424.50 targets 1408.50. Do NOT get caught long below 1408.50.