Watch this pivot for direction… 10-Year Treasury Notes: There is still resistance up at 126.25; I think if the bulls can take out 127.03 that is where they can start to re-assert and take trade up to 127.285….To have any weakness the bears need to control 125.21. US 5-Year Treasury Note: What matters here (5s are like bonds in this respect i.e. having triggers for the “next move”) is 121.125 (above allow a run at 122.28) and 120.195 (below is vulnerable to 119.23_2 –which IS a first-touch fade). S&P500 Stock Index: Trade thru the highs will go after 1720 – but we SHOULD get a first-touch fade at 1683.75. The key for the bears is to take out 1650- which allows a run at 1612.75.
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