June U.S. T-Bonds closed up 13/32 at 148 1/32 yesterday. Prices closed near mid-range yesterday and hit a fresh four-month high. Bond market bulls have the near-term technical advantage. A five-week-old uptrend is still in place on the daily bar chart. The next downside price breakout objective for the T-Bond bears is closing prices below solid technical support at last week’s low of 145 26/32. The next upside technical objective for the bulls is to produce a close above solid technical resistance at the contract high of 149 23/32. First resistance is seen at yesterday’s high of 148 20/32 and then at 149 even. First support is seen at yesterday’s low of 147 13/32 and then at this week’s low of 147 5/32. Wyckoff’s Market Rating: 6.5.
June U.S. T Notes closed up 4.0 (32nds) at 133.02.5 yesterday. Prices closed near mid-range yesterday. Bulls have the solid near-term technical advantage. The next upside price breakout objective for the bulls is closing prices above solid resistance at the contract high of 133.11.5. The next downside price breakout objective for the bears is producing a close below solid technical support at last week’s low of 132.10.5. First resistance is seen at yesterday’s high of 133.09.5 and then at 133.11.5. First support is seen at this week’s low of 132.25.5 and then at 132.20.0. Wyckoff’s Market Rating: 7.5
