Commentary, Featured|September 28, 2012 11:00 am

Broz on Bonds (Levels)

Adjusted on: 9/27

Comments: Bonds: There’s not alot here….favor the bulls at 149.31as there isn’t any meaningful resistance above there…. I’ll still favor a scalp-sell below 149.05 – the trade projects to 148.13. Regarding the pivotals down below, 148.04 lends the most support; do NOT get caught long below 147.23. 10s: NOTHING changed here…trade above the pivot targets 134.30 – and the bulls will build a better case by attaining and controlling 133.29. Rejecting the pivot will take out more longs (especially as the session wears on) – but otherwise the bears need 132.24. 5s: There’s bookends at 124.23 and 124.17…favor the bulls at 23 (targeting 124.30). There’s not a ‘sell trigger” level here; the bears will need to take out 124.045. SPs: What will matter here are 1466.75 and 1426 – in between is just noise. Remember, above 1466.75 targets 1526. Trade below 1426 will make a run at 1408.50

DEC BONDS	DEC 10s	DEC 5s
151.17* target	134.30 target	125.13
150.21	134.20	125.07_7 pivotal
149.31 follow thru?	134.12 watch	124.30 target
149.26*	133.29 target	124.23 PIVOT
149.15 PIVOT	133.23 PIVOT	124.17*
149.05 still favor weakness	133.135 weak below	124.105 pivotal
148.31*	133.06* target	124.045 pivotal
148.13 pivotal	132.31*
148.04 pivotal	132.24 pivotal
147.23 pivotal (below targets 146.29)	132.165*
147.09*
DEC SP500
1477.25
1466.75 pivotal
1448.25 PIVOT
1439.50*
1439.50*
1426.00 pivotal
1419.00*
1414.00* 1408.50* target
1404.00 pivotal 1399.50 support?

Economic Calendar (all times Central) Expected Last

7:30 Personal Income .2 .3

Personal Spending .5 .4

8:45 Chgo PMI 53 53

8:55 Michigan Sentiment 79 79.2

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Broz on Bonds (Levels)

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