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marketmavens

U.S Treasuries & E-mini S&P500

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Hopefully, the FOMC decision and statement will provide the bond market with some
insights and the motivation to develop a trend. Until then, here are a couple of thoughts to
consider.
Despite some recent weakness in the sector, the 30yr was unable to take out support at
142.18 – managing a low of 142.16. If the bears can take that out, look for a concerted
effort to test 142.02 and perhaps even 141.22. Any pushback thru 143.03 should be
given the chance to test 143.19.
The 10yr note has also left support intact at 119.065. With the 3% yield not too much
lower that’s revealing how opposed participants have been to sell this market. On the
upside, 119.26 is still the key price to higher trade.
While the 5yr note is also a market that we analyze and trade, let’s take a look at the mini
SP (es) where we continue to find a lot of opportunities.
With a new high in the September contract of 2849.50, any probes thru there need to be
respected for a move to 2864. Friday’s low (2808.75) probed support at 2810.25; if the
bears can take trade thru that low 2792 will be their target.
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