September U.S. T-Bonds closed up 2/32 at 135 19/32 yesterday. Prices closed nearer the session low but did hit a two-week high early on. Bond market bears still have the solid overall near-term technical advantage. Prices are in an 11-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 the contract low of 132 2/32. The next upside technical objective for the bulls is to produce a close above solid technical resistance at the July high of 136 27/32. First resistance is seen at yesterday’s high of 136 even and then at 136 16/32. First support is seen at yesterday’s low of 135 14/32 and then at 135 even. Wyckoff’s Market Rating: 2.5.
September U.S. T Notes closed up 2.5 (32nds) at 127.05.5 yesterday. Prices closed near mid-range and closed at a fresh four-week high close. The bears still have the overall near-term technical advantage. The next upside price breakout objective for the bulls is closing prices above solid resistance at 128.00.0. The next downside price breakout objective for the bears is producing a close below solid technical support at 125.00.0. First resistance is seen at yesterday’s high of 127.10.0 and then at 127.16.0. First support is seen at yesterday’s low of 127.02.0 and then at 126.24.0. Wyckoff’s Market Rating: 3.0