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Bulls and Pivots


Trade up thru 136.06 targets 137.05 and 137.15. Trade below 132.08 seeks 125.21. 10-Year Treasury Notes: “Post”-Bernanke if trade is above the pivot we need to favor a move to 127.16 and 127.24. (Those are the whole ballgame in this market – who controls those prices) Downside, 125.225 is key; trade thru there targets 124.15. US 5-Year Treasury Note: The keys are the pivot and 120.195 – below 120.195 can re-test 119.27_2…above the pivot seeks 122.055. S&P500 Stock Index:  I’m not in a buying-dip(s) mode here – I want to see the bulls at least hold this pivot…and I’ll certainly look for the pivotals further up on trade thru 1683. Losing 1654 sends trade down to 1638.25; Weakness at 1629 targets 1618. (best downside fades are 1654 and especially 1618; upside 1720.50)