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U.S. Treasuy Futures Bulls Fading a Bit

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Jim Wyckoff

June U.S. T-Bonds closed down 13/32 at 143 30/32 today.
Prices closed near the session low today on profit taking
after hitting a fresh six-week high early on. Bulls and
bears are on a level near-term technical playing field but
the bulls do still have some upside momentum on their side.
The next downside price breakout objective for the T-Bond
bears is closing prices below solid technical support at
142 16/32. The next upside technical objective for the
bulls is to produce a close above solid technical
resistance at 145 even. First resistance is seen at 144
16/32 and then at the December high of 144 30/32. First
support is seen at 143 15/32 and then at 143 even.
Wyckoff’s Market Rating: 5.0.

June U.S. T Notes closed down 5.0 at 131.20.0
today. Prices closed nearer the session low today on profit
taking after hitting a fresh two-month high early on. Bulls
still have the overall near-term technical advantage. The
next upside price breakout objective for the bulls is
closing prices above solid resistance at 132.08.0. The next
downside price breakout objective for the bears is
producing a close below solid technical support at
130.24.0. First resistance is seen at the February high of
131.27.0 and then at today’s high of 132.00.5. First
support is seen at 131.16.0 and then at 131.11.0. Wyckoff’s
Market Rating: 6.0