Interest rates are now dropping back, 30-year Bond at highest level in more than a month at 133. The yield has dropped to 3.67% from Sep 9 peak at above 3.9%
10-year note price up to 126 and back to late August breakdown area. The extreme lows at 122 weeks ago saw the yield flirt with the psychological 3% area. 10 year now at 2.65% with upside resistance at 127 1/2 from halfway of 133 to 122 move , downside support 2.3% in inversely related yield from midpoint of 1.6% to 3%.
Stock support E-mini S&P from last Tuesday at 1288ish pre blast basing area. Next upside to watch is the 1707 midpoint of 1727 all time peak to today's lows at 1687...
5% upside objective...Complete recovery of 80 point August selloff targets previous high at 1705 plus that move to 1785 technically.
OptionsProfits can be followed on Twitter at twitter.com/OptionsProfits
Alan Knuckman can be followed on Twitter at twitter.com/AlBk2Comodities
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV