Adjusted on: 9/12
Comments: NOTE: SPs: DEC IS LEAD MONTH: Bonds: The FOMC will dictate the pace; if trade ends up below 146.21 the market is very bearish. (to at least 145.26). Upside, bulls re-establish some control above 148.15; better above 149.15. 10s: On the FOMC, consider 132.13-06 a pivotal area – trade below it seeks 131.175. Taking out 131.175 really adds to the bears’ cause. 5s: Like 10s, add 123.31 to the “pivot” on the FOMC. Trade below that area seeks 123.235 and 123.085. Getting back above 124.22 lets 5s take a run at 125.075 and 125.125 – the latter being the better fade. SPs: DEC IS LEAD Trade above 1450 goes after 1525. Trade gets progressively weaker below 1410, 1400.25, 1388.25.
|
DEC BONDS |
DEC 10s |
DEC 5s |
|
150.16* |
134.11* target |
125.125 pivotal |
|
150.00* |
133.29 target |
125.075 pivotal |
|
149.15 watch |
133.24 buy |
124.22 pivotal |
|
148.31 major |
133.095 |
124.05 PIVOT (true) |
|
148.15 pivotal (on FOMC) |
132.31 |
123.31 pivotal |
|
147.31 |
132.13 PIVOT (true) |
123.235 target |
|
147.15 PIVOT |
132.06 pivotal |
123.15 major |
|
146.21 (pivotal (on FOMC) |
131.175 pivotal |
123.085 target |
|
146.11* target |
131.07* |
123.05_7 pivotal |
|
145.31 |
131.01 support |
122.28* |
|
145.26 target |
130.27 short below |
|
|
145.14 |
130.06 major |
|
|
145.05 target |
||
|
144.07 pivotal (on FOMC) |
DEC SP500
1479.00
1450.00 pivotal
1440.50 target
1432.25 PIVOT
1422.25*
1416.00 sm pivotal
1410.00 pivotal
1400.25 target/support?
1388.25 treat as pivotal
1379.00 weak below
1368.50 target
Economic Calendar (all times Central) Expected Last
7:30 PPI 1.2 .3
core .2 .4
Initial Claims 370 365
11:30 FOMC DECISION
noon 30YR Auction
1:15 BERNANKE SPEAKS
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