March U.S. T-Bonds closed up 2/32 at 143 19/32 yesterday. Prices closed near mid-range yesterday on tepid short covering in a bear market. T-Bond bears have the solid overall near-term technical advantage. The next downside price breakout objective for the T-Bond bears is closing prices below solid technical support at 142 even. The next upside technical objective for the bulls is to produce a close above solid technical resistance at the January high of 146 17/32. First resistance is seen at 143 28/32 and then at yesterday’s high of 144 6/32. First support is seen at yesterday’s low of 143 2/32 and then at 142 21/32. Wyckoff’s Market Rating: 1.5.
March U.S. T Notes closed up 2.5 (32nds) at 131.22.0 yesterday. Prices closed near mid-range yesterday on tepid short covering in a bear market. 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 the January high of 132.17.5. The next downside price breakout objective for the bears is producing a close below solid technical support at the September low of 130.10.5. First resistance is seen at last week’s high of 131.26.5 and then at yesterday’s high of 131.29.5. First support is seen at yesterday’s low of 131.12.0 and then at 131.07.5. Wyckoff’s Market Rating: 3.0
