Thirty Year Bonds Looking for a Correction Towards the 156-158 Area 5.11.2016

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5. Futures Economic Reports for Wednesday May 11, 2016

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Thirty Year Bonds Looking for a Correction Towards the 156-158 Area

Ilan Levy-Mayer | Friday, 06 May 2016 12:16 (EST)

I am looking for US Treasury bonds, also known as the 30 year bonds to correct down to 156-158 area. I am thinking that tomorrow’s monthly unemployment report may trigger this correction, or it may take a little longer or maybe not happen at all – BUT my chart seems to think there is a good possibility of a correction.

Notice the weekly chart below and the correction we had last year between February and July. I think the market right now is a on a possible break lower and a similar correction in price towards the support levels of 156-158 area.

Read  the rest….

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Futures Trading Levels  

Contract June 2016 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2120.75 4495.08 18205 1145.83 94.71
Resistance 2 2100.25 4446.92 18035 1136.57 94.52
Resistance 1 2089.00 4420.08 17946 1131.43 94.39
Pivot 2068.50 4371.92 17776 1122.17 94.20
Support 1 2057.25 4345.08 17687 1117.03 94.07
Support 2 2036.75 4296.92 17517 1107.77 93.88
Support 3 2025.50 4270.08 17428 1102.63 93.75
Contract June Gold July Silver June Crude Oil June Bonds June   Euro
Resistance 3 1287.5 17.50 47.08 166 13/32 1.1463
Resistance 2 1279.8 17.35 45.93 166 5/32 1.1442
Resistance 1 1273.8 17.24 45.32 165 29/32 1.1411
Pivot 1266.1 17.08 44.17 165 21/32 1.1391
Support 1 1260.1 16.97 43.56 165 13/32 1.1360
Support 2 1252.4 16.82 42.41 165 5/32 1.1339
Support 3 1246.4 16.71 41.80 164 29/32 1.1308
Contract July Corn July Wheat July Beans July SoyMeal June Nat Gas
Resistance 3 406.3 481.8 1159.17 387.30 2.28
Resistance 2 396.2 475.3 1125.33 373.50 2.22
Resistance 1 388.6 468.3 1104.67 366.60 2.19
Pivot 378.4 461.8 1070.83 352.80 2.14
Support 1 370.8 454.8 1050.2 345.9 2.1
Support 2 360.7 448.3 1016.33 332.10 2.06
Support 3 353.1 441.3 995.67 325.20 2.03

 

Economic Reports

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

Date 4:00pm Currency Impact Detail Actual Forecast Previous Graph
WedMay 11  4:30am GBP Manufacturing Production m/m 0.4% -1.1%
GBP Industrial Production m/m 0.7% -0.3%
10:00am GBP NIESR GDP Estimate 0.3%
11th-13th USD Mortgage Delinquencies 4.77%
10:30am USD Crude Oil Inventories 2.8M
1:01pm USD 10-y Bond Auction 1.77|2.8
2:00pm USD Federal Budget Balance 116.2B -108.0B
7:01pm GBP RICS House Price Balance 38% 42%

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