June U.S. T-Bonds closed up 2/32 at 131 7/32 today. Prices closed nearer the session high today after hitting a six-week low early on. More risk appetite in the market place has been bearish for U.S. Treasuries recently. Bulls have lost their near-term technical advantage. The next downside price breakout objective for the T-Bond bears is closing prices below solid technical support at today’s low of 129 21/32. The next upside technical objective for the bulls is to produce a close above solid technical resistance at 132 24/32. First resistance is seen at today’s high of 131 15/32 and then at 132 even. First support is seen at 131 even and then at 130 16/32. Wyckoff’s Market Rating: 5.0.
June U.S. T Notes closed up 3.5 (32nds) at 123.20.0 today. Prices closed nearer the session high on short covering. Prices Friday hit a five-week low. The bulls have lost their near-term technical advantage. The next upside price breakout objective for the bulls is closing prices above solid resistance at last week’s high of 125.06.5. The next downside price breakout objective for the bears is producing a close below solid technical support at 123.00.0. First resistance is seen at today’s high of 123.24.0 and then at 124.00.0. First support is seen at today’s low of 123.13.5 and then at last week’s low of 123.10.5. Wyckoff’s Market Rating: 5.0.
