December U.S. T-Bonds closed up 5/32 at 133 4/32 today. Prices closed nearer the session high on short covering after hitting a three-week low Tuesday. Bond market bulls and bears are on a level near-term technical playing field. The next downside price breakout objective for the T-Bond bears is closing prices below solid technical support at the October low of 131 20/32. The next upside technical objective for the bulls is to produce a close above solid technical resistance at the October high of 135 24/32. First resistance is seen at today’s high of 133 9/32 and then at 133 18/32. First support is seen at today’s low of 132 24/32 and then at 132 16/32. Wyckoff’s Market Rating: 5.0
December U.S. T Notes closed up 11.5 (32nds) at 126.29.5 today. Prices closed nearer the session high today on short covering after hitting a three-week low Tuesday. The bulls have the slight near-term technical advantage. Prices are still in a two-month-old uptrend on the daily bar chart. 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 this week’s high of 127.02.0 and then at 127.09.0. First support is seen at 126.24.0 and then at today’s low of 126.16.0. Wyckoff’s Market Rating: 5.5
