December U.S. T-Bonds closed up 1 8/32 at 143 30/32 today. Prices closed nearer the session low but soared to another contract high early on today. At one point today T-bond prices were over five full points higher. However, the low-range close today produced a bearish buying exhaustion tail, which does hint the bulls today ran out of gas on the upside. Still, U.S. Treasuries will garner more safe-haven demand if trader and investor anxiety remains high. The bulls have the solid near-term technical advantage. The next downside price breakout objective for the T-Bond bears is closing prices below solid technical support at 140 16/32. The next upside technical objective for the bulls is to produce a close above solid technical resistance at today’s contract high of 148 even. First resistance is seen at 144 even and then at 144 16/32. First support is seen at 143 even and then at today’s low of 142 13/32. Wyckoff’s Market Rating: 8.5
December U.S. T Notes closed up 23.0 (32nds) at 120.05.0 today. Prices closed nearer the session low and soared to another contract high early on today. Today’s low-range close suggests the bulls are now exhausted. The T-Note bulls do still have the solid near-term technical advantage. Safe-haven demand was featured again today and will continue to support notes if trader anxiety remains high. The next upside price breakout objective for the bulls is closing prices above solid resistance at today’s contract high of 130.17.0. The next downside price breakout objective for the bears is producing a close below solid technical support at 126.00.0. First resistance is seen at 128.16.0 and then at 129.00.0. First support is seen at 127.23.5 and then at today’s low of 127.07.5. Wyckoff’s Market Rating: 8.5
