30 Yr. Bonds….147.31 was last qtr’s downside target in the “Z” December 16 contract. The March 17 contract came within a couple of ticks of the level late December.
Last night the “M” June 2017 contract, which is now lead month printed 147.31.
The June contract is picking up the old continuation levels which is a phenomena
unique to Futures.
You can revisit that work in the Bond section of the attached 1st qtr. Medium Term View
Spu’s… last nights low hit the 18 DMA @ 2359.50 and bounced.
Today into tomorrow you’re looking for market extremes for clues as to new direction.
I will be out of office until late this afternoon touring a High School with my daughter.
I will not be checking my e-mail or responding to queries until late today.