USU09 – T-Bond Futures (Last:121^25)

The bullish penetration of a midpoint resistance at 120^23 augurs more strength over the next 7-10 days to as high as 123^07.   (The equivalent for the December contract is 121^30.) Secondary resistance at 122^11 can be shorted with a stop-loss as tight as four ticks. ______ UPDATE: The futures spiked to 122^17, stopping us out with a four-tick loss. The overshoot suggests still-higher prices lie in store.