Midday Missive

The Italian 10 yr. Bond…. FBTPU4, which signaled the low in rates yesterday for all the major Bond markets, put in an ORL day and looks vulnerable to another 100 point drop with sustained price action below 127.45.
Spu’s…put in a nice mid-week high. As long as there is no price recovery today or tomorrow over 1958 they’ll remain under pressure.
NASD 100…3850 is weekly support. Look for a bounce around 3890.
VIX…15.80 is weekly resistance. match up a low in the Equity Indices with this level the first time in.
With everyone hitting the sell button in the equities, it’s pretty safe to say you’ve seen a short term low in the 30 Yr. for at least today.
Gold…1285 +- a couple of bucks is support.
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