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Greg Troccoli

Greg Troccoli

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Two Charts to Look At

CBT - U.S. TEN YEAR NOTE (Sept) - Daily
Near Term Trend: Positive
Thursday's Trade: 124'10 (- 9.0) Yield: 2.96%

CBT 10-Year US Note

UPDATE: As our readers are aware, I have been looking for a point to sell the Ten-Year Note.

Certainly the there are factors which the market has been anticipating for the last several weeks as the September contract continued test the 124'30 region as it has six times in the last four weeks (recall we defined this resistance region as we entered the week).

I will short the market at current levels (124'07 or better) with a stop at 125'01 (close only).


CME- S&P 500 Index - Weekly
Intermediate Trend (3 Months): Positive
Thursday's Trade: 1336.00

CME S&P500 Index

UPDATE: Four weeks ago we highlighted the fact the Index was holding support at the 200- Day Moving Average Line which remains positively sloped for the last two years (since July 2009). True to form, the market accelerated nearly 100 points higher, during the last two weeks, but stopped short of the recent highs posted in April. However, even on this latest dip, on Monday, the Index maintained support at 1291.00- well above our 1280.78 pivot.

We still look for new historical highs by Year-End.


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