September U.S. T-Bonds closed down 21/32 at 138 21/32 yesterday. Prices closed near the session low yesterday and closed at a fresh contract low close. Bond market bears have the solid overall near-term technical advantage. Prices are in a six-week-old downtrend on the daily bar chart. The next downside price breakout objective for the T-Bond bears is closing prices below solid technical support at 137 even. The next upside technical objective for the bulls is to produce a close above solid technical resistance at last week’s high of 142 15/32. First resistance is seen at 139 even and then at yesterday’s high of 139 27/32. First support is seen at 138 even and then at Tuesday’s contract low of 137 25/32. Wyckoff’s Market Rating: 1.0.
September U.S. T Notes closed down 8.0 (32nds) at 128.19.0 yesterday. Prices closed nearer the session low and closed at a fresh contract low close yesterday. The bears have the solid near-term technical advantage. Prices are in a six-week-old downtrend on the daily bar chart. The next upside price breakout objective for the bulls is closing prices above solid resistance at last week’s high of 130.15.0. The next downside price breakout objective for the bears is producing a close below solid technical support at 128.00.0. First resistance is seen at 129.00.0 and then at this week’s high of 129.05.0. First support is seen at 128.17.0 and then at Tuesday’s contract low of 128.03.0. Wyckoff’s Market Rating: 1.0
