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F1 Comments: Market recovered quickly after Thursday’s sell off. Was the bottom of the bracket just tested and held? Is a retest of 120-00 next? Should get our answers next week. Market’s bias remains a trading range/bracket.
F2 Comments: Talk about treacherous markets. Thursday’s market was off 3 points and Friday’s up about 2 points from Thursday’s lows. If 119-00 can change from resistance to support on Monday, it will be easy to retest 120-00. The answer will be based on which side of 119-00 the market builds volume next week. No news to drive Monday’s trading. Expect the ES’s reaction to the weekend news to be the feature and drive the Bond’s early direction. If ES is lower, we want to buy the 118-17/21 area. If the ES is higher, OK to sell 118-27/31. Sunday’s OVN session should help clear up which direction we trade from on Monday.
F3 Comments: Analysis was to be a seller above 118-03. IF 117-20 held as support, OK to turn buyer.
Redbook 8:55 ET
Treasury Budget 2:00 ET
Bank Reserve Settlement
Bank Reserve Settlement
Wednesday:
MBA Purchase Applications 7:00 ET
Retail Sales 8:30 ET
EIA Petroleum Status Report 10:30 ET
Thursday:
International Trade 8:30 ET
Jobless Claims 8:30 ET
EIA Natural Gas Report 10:30 ET
Friday:
Empire State Mfg Survey 8:30 ET
Import and Export Prices 8:30 ET
Treasury International Capital 9:00 ET
Industrial Production 9:15 ET
Consumer Sentiment (p) 10:00 ET
From the TradeMaven Software, Volume Weighted Pivot Support and Resistance for Monday, 11 Feb 2007:
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Posted by Charles Cochran:
Treasury Bond - Shows you the power of a dealer community that is underwater and long cash Bonds. Thursday’s hard sell off reversed Friday after finding buyers OVN. The buying developed when there was no follow through selling in the OVN session. A quiet sideways eMini S&P market made it easier for the Dealers to cover some of Thursday’s shorts further supporting Bonds. After lunch 118-28+, the auction point was touched too. The market can trade through 119-00 easily w/some help from the news. May have just retested the bottom of the bracket yesterday and it held. No news to drive Monday’s trading. Market shoud take its clues from the weekend news.F1 Comments: Market recovered quickly after Thursday’s sell off. Was the bottom of the bracket just tested and held? Is a retest of 120-00 next? Should get our answers next week. Market’s bias remains a trading range/bracket.F2 Comments: Talk about treacherous markets. Thursday’s market was off 3 points and Friday’s up about 2 points from Thursday’s lows. If 119-00 can change from resistance to support on Monday, it will be easy to retest 120-00. The answer will be based on which side of 119-00 the market builds volume next week. No news to drive Monday’s trading. Expect the ES’s reaction to the weekend news to be the feature and drive the Bond’s early direction. If ES is lower, we want to buy the 118-17/21 area. If the ES is higher, OK to sell 118-27/31. Sunday’s OVN session should help clear up which direction we trade from on Monday.F3 Comments: Analysis was to be a seller above 118-03. IF 117-20 held as support, OK to turn buyer.Upcoming Reports:
Tuesday:
ICSC-UBS Store Sales 7:45 ETRedbook 8:55 ET
Treasury Budget 2:00 ET
Bank Reserve Settlement
Bank Reserve Settlement
Wednesday:
MBA Purchase Applications 7:00 ET
Retail Sales 8:30 ET
EIA Petroleum Status Report 10:30 ET
Thursday:
International Trade 8:30 ET
Jobless Claims 8:30 ET
EIA Natural Gas Report 10:30 ET
Friday:
Empire State Mfg Survey 8:30 ET
Import and Export Prices 8:30 ET
Treasury International Capital 9:00 ET
Industrial Production 9:15 ET
Consumer Sentiment (p) 10:00 ET
From the TradeMaven Software, Volume Weighted Pivot Support and Resistance for Monday, 11 Feb 2007:
