Technical Analysis – Futures – July 25

10 year note found some support around the 116 level and rallied sharply topping out at around 118. Luckily was able to catch most of the move. Few days later, the note sold off sharply back into to 116′015 due to the rally in equities. It’s been awhile since treasuries have been this volatile. Either way it makes for great trading.

Check out the Treasury Auction Schedule coming up:

• 70 day CMBs, $30 billion 07/25
• 13 week Bills $32 billion 07/27
• 26 week Bills, $31 billion 07/27
• 52 week Bills, $27 billion 07/28
• 2 year Notes, $42 billion 07/28
• 5 year Notes, $39 billion 07/29
• 7 year Notes, $28 billion 07/30
• 19 year, 6 month TIPS, $6 billion 07/27

Total = $235,000,000,000 Billion Dollars worth of Securities.  In ONE WEEK!!

E-Mini S&P once again takes out the highs and keeps on going leaving bears covering their rears to avoid getting raped by bulls again. Earnings season is almost over with most major stocks having reported. As much as I’d like to call it tops here, I can still see a tiny bit of upside. Look for the /ES to possibly trade higher on Sunday then possible selling off on the open on Monday.

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