HERE IS A LINK to this mornings TECHNICALS.pdf
If/when you click it you will find daily pivots to help inform trading/investing needs. Today’s PIVOTS are: 5s vs 2.78; 10s vs 2.95; 30s vs 3.13
With prices nearly and universally UNCH — as you’d expect them to be on MOVING DAY (between ADP and NFP) — and positions were squared (stocks down almost 400pts at one point, ended nearly UNCH?) it seems appropriate to NOT say too much more than I did YESTERDAY (10s vs 2.95, 5s vs 2.80 and vs 2s10s**). NOTE that I ended with a look at S&P vs BEARISH MOMENTUM and ‘contained by 50/200dMAs and its with that in mind .. well Turns out I may not be so stoopid after all? Lets begin with an updated look at S&P.
You’ll ALSO FIND THESE UPDATES: BBG on DOWs 200dMA ‘under threat’; BMO on 2s and 5s newly defined and narrower channels; COMMERZ WEEKLY (yields are side-lined short-term BUT trend higher remains in place); CSFB on 10s closing BELOW 1st important ‘resistance’ (2.96/95) means short-term squeeze ‘in low conviction bearish positions is possible’ — retain BEARISH BIAS, expect 10s to retest 3.05%; NWM stopped out // CLOSED SHORT 5s vs 2s10s; SocGEN note on DXY (broken ABOVE multi month resist of 91/91.90) also on 10s — defending 3.05 both 2013 LOWS and lower band of ‘perennial channel’
Here are some levels as of 5:10am
As far as US/China trade talks go, here’s RTRS on ‘OUR side’
Treasury Secretary says having good trade talks in China
Have a good start and May the 4th be with you…