10-year note

Friday, the 30-year Treasury Bond finished the week and month testing my upper daily boundary high projection at 174-17. It took the last two weeks for the 10-year Treasury Note to muster the necessary momentum to snap back and test my long standing resistance at 132-29/133-00.

30-year Treasury bond

Last week 30-year Treasury bond futures successfully tested and surpassed its all-time contract high (see last Monday’s report).

Last week 30-year Treasury bonds extended the previous week’s break out of its three-month consolidation band as the USU soared to my maximum upper weekly boundary projection at 168-22/25.
The harsh reality is that stock prices closed the week lower. Yet the fact remains that it was an explosion of some kind in the bond market that lit the fuse.
Near-term resistance comes under pressure
No matter what your stance may be on the ultimate onset of monetary tightening around the world, the UK example shows that there are many ways of trading these changes.
This pattern is of greater interest because it is near levels seen for earlier corrective action.
Just now bond bears must be extremely depressed by the fact that even when the occasional data piece shows resilient demand, yields refuse to budge
Treasuries rose in the longest rally in more than a year as the European Central Bank was said to wait until a court ruling before unveiling full details of a bond-buying plan to help resolve the region’s debt crisis.