December Bonds finished up 0-170 at 119-220, 0-030 off the high and 1-150 up from the low.
December 10 Yr Treasury Notes closed up 0-130 at 117-140. This was 0-255 up from the low and 0-025 off the high.
Technical Outlook
BONDS (DEC) 09/24/2009: The downside crossover (9 below 18) of the moving averages suggests a developing short-term downtrend. Stochastics trending lower at mid-range will tend to reinforce a move lower especially if support levels are taken out. The market now above the 18-day moving average suggests the intermediate-term trend has turned up. A positive signal was given by the outside day up. The market setup is supportive for early gains with the close over the 1st swing resistance. The next downside objective is 117-260. The next area of resistance is around 120-150 and 120-290, while 1st support hits today at 118-300 and below there at 117-260.
10 YR TREASURY NOTES (DEC) 09/24/2009: A negative indicator was given with the downside crossover of the 9 and 18 bar moving average. Declining momentum studies in the neutral zone will tend to reinforce lower price action. The market now above the 18-day moving average suggests the intermediate-term trend has turned up. Market positioning is positive with the close over the 1st swing resistance. The next downside objective is 116-130. The next area of resistance is around 117-285 and 118-045, while 1st support hits today at 117-010 and below there at 116-130.
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