December U.S. T-Bonds closed down 12/32 at 1313 12/32 today. Prices closed nearer the session low and hit a fresh seven-week low in the wake of last Friday’s bearish U.S. jobs report. Bond market bears now have the near-term technical advantage. The next downside price breakout objective for the T-Bond bears is closing prices below solid technical support at the September low of 128 12/32. The next upside technical objective for the bulls is to produce a close above solid technical resistance at last week’s high of 134 10/32. First resistance is seen at today’s high of 131 24/32 and then at 132 even. First support is seen at today’s low of 131 10/32 and then at 131 even. Wyckoff’s Market Rating: 4.0

December U.S. T Notes closed down 3.0 (32nds) at 126.00.5 today. Prices closed near the session low today and closed at a fresh three-week low close. The bulls have lost their slight near-term technical advantage. The next upside price breakout objective for the bulls is closing prices above solid resistance at the October high of 128.02.0. The next downside price breakout objective for the bears is producing a close below solid technical support at the October low of 125.16.5. First resistance is seen at today’s high of 126.08.5 and then at 126.16.0. First support is seen at last week’s low of 125.30.5 and then at 125.24.0. Wyckoff’s Market Rating: 5.0