INO.com’s Daily Market Analysis
It’s free, informative, and will help you prepare and plan for the next trading day, while getting a jump on changing market conditions.
June T-bonds closed down 1-30-pts. At 162-19.
June T-bonds closed lower on Thursday and below the 10-day moving average crossing at 162-25 signaling that a short-term top is in or is near. The low-range close sets the stage for a steady to lower opening when Friday's night trading begins. Stochastics and the RSI are overbought but are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 160-26 would confirm that a short-term top has been posted. If June extends the rally off March's low, the reaction high crossing at 168-11 is the next upside target. First resistance is Wednesday's high crossing at 165-27. Second resistance is the reaction high crossing at 168-11. First support is today's low crossing at 162-14. Second support is the 20-day moving average crossing at 160-26.