Bond Futures: Sort of Bearish

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Broz on Bonds

Jack Broz

Comments for 11.28.12:
Bonds: 148.27 I'm still going to use this space to talk about where the moves will come: Through the 2.75% target to 152.19. We COULD see some weakness below 150.13; I'll favor the bears at 149.23.
10’s: Trade above 134.065 seeks 134.26; go WITH the bears below 133.105.
5’s: Although I'm a bit bearish I HAVE to set a low pivot here. Look for trade up thru 124.26 to push to 125.015. There COULD be a blow-off shake-out in the 5s so, let's be a bit careful with upside fades. Rejecting 124.26 OR moving back below the pivot gets us back on the sell-side.
SPs: NO PIVOT. Here's what's important -- strength (use Wednesday's sl) wants to test 1411 and 1414.50. Once there, see WHO controls them. Downside, the bears re-assert control below 1386.50.

DEC BONDS

DEC 10s

DEC 5s

153.21

134.26 target

125.14 pivotal

153.06 target

134.175

125.045

152.19* target

134.11 watch

125.015 target/fade?

151.23  2.75%...

134.065 favor follow-thru

124.26  watch 

151.18* PIVOT

133.26* PIVOT

124.195* PIVOT  

150.30 watch

133.19*

124.12 pivotal

150.21 watch

133.105 pivotal

124.055*

150.13 pivotal

149.23 pivotal

133.00 watch

132.215* target

 

 

149.09*

 

 

 

 

DEC SP500 1441.00 1434.50* 1429.50 target 1417.75* 1414.50 target 1411.00 watch 1396.50 watch 1386.50 watch 1371.75* 1363.00 target Economic Calendar (all times Central) Expected Last 7:30 GDP 2.8 2.0 Initial Claims 393 410 9:00 Pending Home Sales .4 .3 noon 7YR Auction
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