The Dec'09 30yr T-Bond slipped lower and will remain vulnerable to further losses with all trading below the 122-05 Inflection Pivot. If yesterday's negative momentum is going to overwhelm this MKT it will not do much if any trading above here. If so expectations are for a run at the 123-02-122-30 resistance band. Be patient. This is the high point for any false hope. A breach of 123-02 confirms another strong push targeting 124-13.
A failure from 121-21 is a sign of weakness that if sustained has the potential to drop the MKT down to 120-29 and the 120-11-120-08 support band on any negative follow through. This move is expected to be relentless with not much in the way of pull backs. 119-09 and 118-14 are the extended targets.
JS
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For more information please contact me at info@jsservices.com. You can also visit http://www.jsservices.com/.The Inflection Pivot levels are available as a chart overlay on the following platforms; Ninja trader, Strategy Runner and eSignal. Sign up for a Complimentary FREE Trial.
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