Currently: Long Looking to: Sell @ 136
As of 2/26/21 close: 13325.50
LAST WEEK: We suggested selling longs at 13619 and shorting at 13631.5 with a target of 134 for covering.
UPDATE: The financial press has been focused recently on the upside action in interest rates and the effect it is having on the rest of the financial markets. We have been calling for higher rates / lower bond prices for a while and we have seen those calls come to fruition finally. We are unconvinced, however, that price support / yield resistance will be violated. The Fed just doesnt want that. Cover shorts and get long between current levels and 13230.5 with stops on a weekly close below 13230 and with a target of 136 for selling longs and re-shorting. The target on that next short will be 132.30.5.