S&P 500
2014.01
+2.65 +0.13%
Dow Indu
17305.53
+39.54 +0.23%
Nasdaq
4593.12
-0.31 -0.01%
Crude Oil
91.41
-0.57 -0.62%
Gold
1219.245
-0.390 -0.03%
Euro
1.284115
-0.005640 -0.44%
US Dollar
84.682
+0.392 +0.50%
Weak

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INTEREST RATES

December T-bonds were slightly higher due to short covering overnight. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off August's high, the 62% retracement level of the March-August-rally crossing at 134-17 is the next downside target. Closes above the 20-day moving average crossing at 137-27 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 136-18. Second resistance is the 20-day moving average crossing at 137-27. First support is the 50% retracement level of the March-August-rally crossing at 135-21. Second support is the 62% retracement level of the March-August-rally crossing at 134-17.

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