Near Term Trend: Neutral to Negative
Monday’s Trade: 129’135 (+ 2) Yield: 1.87%
UPDATE: The inverse correlation between Equities and Treasuries re-appeared this past week.
S&P continued to rally but Treasuries remained weakfish overall.
More importantly, for the purpose of the June 10- Ten Year contract, the up-trend line dating back to December was violated eight days ago.
Based on that- we recommended selling the June contract last Monday, on the opening.
The price would have been 129’230, and currently employing a stop at 130’ 060.