USU09 – T-Bond Futures (Last:118-24)

The bonds are in limbo right now.  On the daily chart, price would have to go through 116-19 and then P would be 113-29.  For the up move to continue price would have to go through 118-26 and then the P would be 119-03 and the longer cycle price objectives remain the same as yesterday.  There is still downside pressure being applied to the charts and the 119-04 level continues to act as resistance.   The night session could carry price down to the 118-18 with a D of 118-00. (IT)