March U.S. T-Bonds closed down 16/32 at 130 19/32 today. Prices closed nearer the session low on a corrective pullback from recent strong gains. Bond market bears have the slight overall near-term technical advantage, but the bulls still have some upside momentum to suggest a market bottom is in place. The next downside price breakout objective for the T-Bond bears is closing prices below solid technical support at 129 even. The next upside technical objective for the bulls is to produce a close above solid technical resistance at the December high of 131 12/32. First resistance is seen at 131 even and then at this week’s high of 131 8/32. First support is seen at today’s low of 130 17/32 and then at 130 even. Wyckoff’s Market Rating: 4.5
March U.S. T Notes closed down 14.0 (32nds) at 124.04.5 today. Prices closed nearer the session low. The bears have the overall near-term technical advantage and regained some downside momentum today. The next upside price breakout objective for the bulls is closing prices above solid resistance at 125.08.0. The next downside price breakout objective for the bears is producing a close below solid technical support at 123.08.0. First resistance is seen at 124.16.0 and then at this week’s high of 124.20.5. First support is seen at today’s low of 124.03.5 and then at 124.00.0. Wyckoff’s Market Rating: 3.0
