Adjusted on: 10/17
Comments: Bonds: As bearish as trade has been, the bears still need to take out this pivot (146.14); doing so lets them go after 144.24. 146.05 and 145.01 are unknowns; I’ll be surprised if trade bounces off 146.05 but I WON’T be if it does at 145.01. Upside, bull control of 148.05 is only slightly bullish. 10s: I set a low pivot because I want us selling new weakness; we can certainly sell rallies to 132.155 – but we shouldn’t fight the bulls above there. Downside, trade gets progressively weaker with failures of 131.18 and 131.125. 5s: Weakness targets 123.21; there’s solid support there (especially at 18) but this market WANTS to print 123.08. Bulls do best above 124.12_7. SPs: Trade above this pivot needs be respected for a run at 1467.50 AND 1487. The bears need 1429.
|
DEC BONDS |
DEC 10s |
DEC 5s |
|
149.26* |
133.145 |
124.23 resist? |
|
148.31* |
133.08* target |
124.18* |
|
148.05 pivotal |
133.305* (above=08 tho) |
124.12_7 pivotal |
|
147.16 scalp buy |
132.24* |
124.05* |
|
147.09* |
132.155 pivotal |
124.00 PIVOT |
|
146.14 PIVOT (true) |
132.085* |
123.21 target/watch |
|
146.05 watch |
132.015 PIVOT |
123.18 major |
|
145.19 |
131.26 target |
123.08* target |
|
145.01 watch |
131.18 pivotal |
123.065 pivotal |
|
144.24 target |
131.125 pivotal |
|
|
144.07 pivotal
|
131.07* |
|
DEC SP500
1487.00 watch
1467.50 watch
1454.50* PIVOT
1441.75 sm pivotal
1436.50 target
1432.00*
1429.00 pivotal
1418.50 target/bounce?
1410.00* target
Economic Calendar (all times Central) Expected Last
7:30 Initial Claims 364 339
9:00 Philly Fed .2 -1.9
noon 30YR TIPS Auction
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