Broz on Bonds: Can ISM & Construction Spending Keep Bonds/Notes Tracking Higher?

Bonds

mtscc-brozonbonds30-Year Bond: Strength – especially up thru the highs – goes after 135.07. Rejecting follow-thru will help the bears, but as for them gaining any kind of control, that only occurs below 132.12 and (better) below 132.04. (Both those prices offer good support).

 
10-Year Treasury Note: Strength – better thru the highs – targets 126.21, losing 125.16 lets trade fall back to 125.05. 05 is solid support – but a failure there leads to more unwinding.

 
5-Year Treasury Notes: Weakest of the sector. The key for the bulls is to hold the yield and then take out 121.035. 035 is likely a first-touch fade but it is also the price that allows a run to 121.22. (121.13_7 is a first touch fade). Weakness – especially in light of it being a rejection of the yield – is vulnerable to 119.315 (good support). S&P500 Stock Index: Weakness – especially thru the lows – targets 1744.50 (a first-touch fade). The bulls will do better above 1791.50; that will let them go after 1803.50.

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