Wednesday the Bond ground lower than I had expected as the USH traded in a slightly above average 1-29-point daily range (avg. is 1-21-pts) and settled down 1-09-points on the session at 152-01.\u00a0 I am happy to see both the Bond and Ten-year continue to hold below my key resistance levels (153-01 and 154-03 and 125-02 and 125-10 respectively) as the previous session\u2019s trade put some doubt into yesterday\u2019s call for lower prices.\u00a0 I continue to look for lower prices however it appears the market is confined to a consolidation trade for the near term.\u00a0 Keep in mind since the market is holding below my upper weekly boundary levels I look for the USH to test 150-17 and 150-06\/00 possibly 149-15\/10 (see Tuesday\u2019s report).\u00a0 Today the USH should trade between at least 151-11 or 151-06 and 152-09\/13.\u00a0 If the lower level is broken the Bond should set its sights on 150-17 and 150-06\/00.\u00a0 If the upper level is broken the Bond should re-test 153-01 and 153-10.<\/p>\n
Support can be found at 151-11, 150-21, 150-17, 149-24, 149-10\/08, 149-04\/02, 148-27, 148-12\/10, 148-00, 147-21, 147-14\/13, 147-04, 146-25, 146-18, 145-31, 145-09, 144-18 and 144-08.\u00a0 Resistance should be met at 152-09\/13, 153-01, 153-10, 153-22, 154-03, 154-26\/155-00, 155-13, 157-17, 160-11, 160-24, 161-11, 162-20, 163-17, 163-23\/25 and 163-30.<\/p>\n
Yesterday the Ten-year ground lower than I had expected as the market appears to have resumed its correction phase.\u00a0 The TYH traded in an above average 31-tick daily range (avg. is 22-ticks) and settled down 16+-ticks on the session at 124-23.\u00a0 Although I was concerned for the downmove given Tuesday\u2019s strength and resiliency, Wednesday\u2019s sell-off enhances my call for a move to 124-00\/123-28 possibly 123-19\/15.\u00a0 Today the TYH should trade between at least 124-10\/08 and 125-00\/02.\u00a0 If the lower level is broken the TYH should test 124-00\/123-28.\u00a0 If the upper level is broken the Note should test 125-10.\u00a0 Keep in mind a settlement above 125-10 would go a long way in confirming higher prices (not expected this week).<\/p>\n
Support can be found at 124-14, 124-10\/09, 124-00, 123-28, 123-19\/15, 123-07, 123-00, 122-26, 122-14, 122-02+, 121-16 and 121-08.\u00a0 Resistance should be met at 124-28, 125-02, 125-10, 125-16, 126-05, 126-16, 127-10, 128-15 and 128-21\/24.<\/p>\n
DISCLAIMER<\/strong> Wednesday the Bond ground lower than I had expected as the USH traded in a slightly above average 1-29-point daily range (avg. is 1-21-pts) and settled down 1-09-points on the session at 152-01. I am happy to see both the Bond and Ten-year continue to hold…<\/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":"
