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.