Adjusted on: 9/16
Comments: Bonds: If the bears can hold this pivot it really keeps the pressure on the market; taking out 144.16 and 144.07 sets up a move to 141.10. 10s: The KEY levels here are: 131.18; trade below it lets the bears pressure 131.025. I feel if 025 gets taken out we’ll see 130.06-129.31. Upside, until the bulls get trade back above 132.31 we need to favor the bears. 5s: Trade below 123.295 targets 123.22 and 123.075. I’ll go with the bulls at 124.185 and see if they can get prices above 124.215. SPs: There could certainly be a profit-taking break here – but if the bulls extend the highs I’ll favor a move to 1526. Trade below 1448.25 will trigger some profit-taking/exiting by late longs… but until we get a test of the support – which is down near 1413 – it’s going to be hard to gauge this market.