10 Year Notes: the battle for 132.215.

MrTopStep.com

Adjusted on: 1/20 REMINDER: CBOT floor is closed Monday 1/21 so I will not moderate the trading room. Also, let’s plan to use this letter for Tuesday’s trade. Comments: US 30-Year Bond: I’ll focus more on highlights in case we get some movement during the Holiday session: trade above 146.16 targets at least 147.03. Of the 3 pivotals upside, 147.03 is most useful for direction; the other 2 are better fades. First weakness comes below 145.00. US 10-Year Treasury Note: We’ll see some weakness below 131.24 - but the best push lower comes with a failure of 131.155.
(Continued weakness at 131.04 moves to 130.205). Strength targets 132.215 – and then we see WHO controls that price. US 5-Year Treasury Note: The bulls need to take out 124.175. Bears do better below 124.00 with weakness increasing below 123.225. S&P500 Stock Index: Until the bears take out 62.50 I’d favor the upside (targeting 1528). Don’t get caught long below

1444. MAR BONDS MAR 10s MAR 5s MAR SP500 148.31* 133.27 pivotal 125.035 1528.00 target 1517.50 148.18 pivotal 133.165 watch 124.26 pivotal 1505.00 148.04* 133.08 resistance 124.175* 1493.00 147.18 target 132.31* 124.12_7 target 1480.80 highs 1470.50PIVOT 147.10 pivotal 132.215 pivotal 124.08 PIVOT (true) 1467.50 do bulls hold? 147.03 pivotal 132.14 stronger above 124.00 pivotal 1462.50 pivotal 1455.00* 146.26 target 132.035* PIVOT 123.225 target 1444.00 pivotal 1432.00 pivotal 146.16* long above 146.05* 131.24 pivotal 123.10* target 1425.50 target 145.23* PIVOT 145.13* 145.00 pivotal 131.155 pivotal 123.055 pivotal 144.21* 131.04 target 144.08 pivotal 130.27 143.28 target 130.205 pivotal Economic Calendar (all times Central) Expected Last 1/22 9:00 Existing Home Sales 508 504