Downside, trade CAN bounce off 138.05 or 137.30 – but we need to view 137.30 as LAST support. 10-Year Treasury Notes: Note the levels really didn’t change – that’s a reminder how little is happening in the bigger picture. I’m favoring the sell-side mainly because of the good hold Wednesday at 129.03..downside, the yield and 128.055 are still supportive – but hey are also “last support”. Upside, taking out 129.03 will help the bulls cause - but then they need 129.13. US 5-Year Treasury Note: The bulls need 122.105 – which lets them target 122.205. Note the target down below. S&P500 Stock Index: NOTE: SEP IS LEAD MONTH As long as trade is below this pivot we need to favor the sell-side. Bear control of 87.50 will go after 76. Getting trade above the pivot will take out some shorts – but the bulls must then contend with 17.50 and will do BEST above 27.50.