Commentary, Featured, Interest Rates|September 26, 2012 11:00 am

Broz on Bonds the Full Report [charts]

Adjusted on: 9/25

Comments: Bonds: I set a high pivot because if Tuesday’s strength was real the bulls will be able to take it out. Note the targets up-top. Downside, the bears need 148.04 and especially 147.16. 10s: Where trade will move is above 133.24 (134.12 AND higher is in play on that) or below 132.24. 132.24 is very significant in this market. 5s: I’m not convinced of Tuesday’s strength…I’m going with a high pivot. I’ll expect weakness back below 124.105. Bulls do BEST above 124.225 (note the targets). SPs: Weakness will go after 1428.50 – and if THAT gets taken out SPs are really building a weak market. NOTE: That 1400.50 is the “meltdown” level should it fail. Upside, if I DO sell strength it’ll only be for a trade – not directional. Until we print 1463 the upside is an “unknown”.

DEC BONDS	DEC 10s	DEC 5s
150.24 target	134.12* target	125.13
149.26 major	133.29 target	125.07_7 pivotal
148.31 major	133.24 long above	124.295 target
148.24 target	133.145	124.225 pivotal
148.16 PIVOT	133.085* PIVOT	124.17* PIVOT
148.04*	132.31*	124.105 pivotal
147.16 pivotal	132.24 pivotal	124.03_2*
147.09* below moves to 29	132.165*	123.295 pivotal
146.29 target	132.085 major
146.13*	132.01
145.31 sell

DEC SP500

1487.00

1477.00

1467.50 highs

1463.00 pivotal

1448.25*

1439.50* PIVOT

1428.50 pivotal

1416.50* chop

1408.75* target

1400.50 pivotal

Economic Calendar (all times Central) Expected Last

9:00 New Home Sales 380 372

noon 5YR Auction

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Broz on Bonds the Full Report [charts]

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