Tuesday, January 3, 2017

Tuesday, January 3, 2016 Morning Bond Comments from MB

Tuesday, January 3, 2016 Morning Bond Comments from MBSocialTwist Tell-a-Friend

No surprise that the Treasury market resumes it’s down course as the dollar and equities rally, and gold trades in the red. The week offers a decent calendar, and the modest rally in bonds over the last few sessions maybe enough to give it fuel to new lows.
My bias is clear to sell rallies at this point. I like selling 149’24, risking 8 ticks to make 32 ticks, or selling 150’10 risking 8 ticks to make 32. If I cannot grab a rally to sell, I will attempt to sell through the 149’02 level, depending on how the chart sets up. I think its reasonable to target a full handle on any short at this point. Bears should have enough for that, and if not, my bias maybe wrong.
151’14 (***)
150’24 (**) Resistance + Third Higher Target
150’10 (**) Resistance + Second Higher Target
149’24 (*) Resistance + First Higher Target
149’10 (*) Last Print
149’02 (**) Overnight Low, the 149’00 level was pivotal for bulls to hold. I don’t think they      can/will on the retest + First Lower Target + Some Support
148’16 (**) Second Lower Target + Some Support
148’02 (***) Third Lower Target + Support
All the best;

Michael Blythe
Futures Strategist
Hamzei Analytics, LLC

Disclaimer and Terms of Service

© Copyright 1998-2023, Hamzei Analytics, LLC. Hamzei Financial Network is published by Hamzei Analytics, LLC, Naples, FL 34112, Admin@HamzeiAnalytics.com (310) 306-1200. The information herein was obtained from sources which Hamzei Analytics, LLC believes are reliable, but we can not and do not guarantee its accuracy. None of the information, advertisements, website links, or any opinions expressed constitutes a solicitation of the purchase or sale of any securities or commodities. Please note that Hamzei Analytics, LLC or its principals may already have invested or may from time to time invest in securities or commodities that are recommended or otherwise covered on this website. Neither Hamzei Analytics, LLC nor its principals intend to disclose the extent of any current holdings or future transactions with respect to any particular security or commodity. You should consider this possibility before investing in any security or commodity based upon statements and information contained in any report, post, comment or recommendation you receive from us. The content on this site is provided as general information only and should not be taken as investment or trading advice. Any action that you take as a result of information, analysis, or conclusion on this site is ultimately your responsibility. Always consult your financial adviser(s) before making any investment or trading decisions.