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December T-bonds closed up 29-pts. at 142-31

December T-bonds closed sharply higher on Tuesday and breaking out to the topside of the trading range of the past four-weeks. The high-range close sets the stage for a steady to higher opening when Wednesday's night trading begins. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends today's rally, the 38% retracement level of the October-November-decline crossing at 143-05 is the next upside target. Closes below the 20-day moving average crossing at 141-13 would confirm that a short-term top has been posted. First resistance is today's high crossing at 143-00. Second resistance is the 38% retracement level of the October-November-decline crossing at 143-05. First support is the 20-day moving average crossing at 141-13. Second support is the reaction low crossing at 140-08.

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