It took all session to sell-off (so far a minor correction) as the USH tested my maximum upper daily boundary and key resistance level at 154-03 (see several past reports).\u00a0 The USH traded in a below average 1-13-point daily range and settled on the session low down 7-ticks on the day at 152-19.\u00a0 There is no change to the technical outlook as the conflicting technical signals coexist.\u00a0 I maintain my call for lower prices that was supposed to begin Thursday and carry into early next week as the USH is expected to test 150-17, 150-06\/00 and possibly 149-15\/10.\u00a0 Although I embrace the call for lower prices my moving average cross is beginning to exhibit a bullish signal (Ten-yr. does not confirm this view yet).\u00a0 As previously mentioned until the Bond takes out and settles above 153-01 and 154-03 (something the Bond failed to do for weeks), I look for losses.\u00a0 Today the USH should trade between at least 151-25 or 151-17 and either 153-01 possibly 153-16\/22.\u00a0 If the upper level is broken the Bond should test 154-03.<\/p>\n
Support can be found at 152-08, 151-25\/23, 151-11, 151-06\/04, 150-22\/18, 150-17, 149-24, 149-10\/08, 149-04\/02, 148-27, 148-15\/14, 148-12\/10, 148-00, 147-21, 147-14\/13, 147-04, 146-25, 146-14, 145-31, 145-09 and 144-08.\u00a0 Resistance should be met at 152-28, 153-00\/01, 153-22, 154-03, 155-13, 157-17, 160-11, 160-24, 161-11, 162-20, 163-17, 163-23\/25 and 163-30.<\/p>\n
The Ten-year traded in a disappointing 18+-tick daily range and settled up 2+-ticks on the session at 124-28+.\u00a0 Again the Ten-year flirts with my key resistance targets at 125-02 and 125-10 and lacks the necessary momentum to breakout and failed to post one settlement above these levels.\u00a0 Although the Note remained firm all day Thursday the Note is expected to sell-off and test 123-24\/22 or 123-17\/16.\u00a0 I maintain the view from several weeks ago it will take two consecutive settlements below 123-03 to target the 32 year Bull trendline (121-08) and 119-31 and a move 125-02 and 125-10 for me to reconsider the long-term trend\u2019s bullish bias and embrace a call for a move to at least 126-05 and 126-16.\u00a0 Today the TYH should trade between at least 124-14\/10 and 125-00\/02.\u00a0\u00a0 If the upper level is broken the TYH should test 125-08\/10.\u00a0 If the lower level is broken the Note should test 124-00.<\/p>\n
Support can be found at 124-14, 124-10\/09, 124-00, 123-28, 123-24\/22, 123-17\/15, 123-07, 123-00, 122-26, 122-14, 122-02+, 121-16 and 121-08.\u00a0 Resistance should be met at 1125-00\/02, 125-08, 125-10, 126-05, 126-16, 127-10, 128-15 and 128-21\/24.<\/p>\n
DISCLAIMER<\/u><\/strong> It took all session to sell-off (so far a minor correction) as the USH tested my maximum upper daily boundary and key resistance level at 154-03 (see several past reports). The USH traded in a below average 1-13-point daily range and settled on the session low…<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[14],"tags":[],"yoast_head":"\n
\nInvestment Newsletter \u2013 The information in this investment newsletter has been carefully compiled from sources believed to be reliable, but we do not guarantee it as to accuracy, completeness or in any other way. Orfanos Research & Trading, LLC, its officers, directors, shareholders, employees and affiliates might from time to time buy or sell the financial products mentioned herein, without notice, and if this concerns you then do not follow our recommendations. The Orfanos Research & Trading, LLC daily technical commentary is intended solely for information purposes and is not to be deemed a prospectus or a solicitation of orders. Past results are not a guarantee for the future.<\/p>\n","protected":false},"excerpt":{"rendered":"
