Looking To Sell The 10 Year Note

19 Dec in Bitcoin, Blog, Bonds, commodities, currencies, futures trading, Mike Seery

10 Year Note Futures--- The 10 year note is trading lower for the 4th consecutive session as I've been writing about this commodity for quite some time looking for a possible sell if prices close under the critical 123.29 level & if that does occur I will place the stop loss even higher than the 2 week high as I will place that at 125.00 risking around $1,100 per contract plus slippage and commission as the breakout could be occurring in today's session.

The 10 year note is trading below its 20 and 100 day moving average as this trend clearly is to the downside as the yields are trading around 2.37% which is way too low especially when you have a GDP growth of 3.3% & a stock market that never seems to go down so play this to the downside as the risk/reward are in your favor in my opinion.

The Federal Reserve last week announced that they will raise interest rates possibly 3 or 4 times in 2018 which is also a negative influence on the 10 year note as we have been trading in a tight channel between 124/125 since the month of October as there is more downside possible, as I still think in 2018 yields could be at 3.50% as the era of extremely low interest rate is over with in my opinion as the quantitative easing during the Obama administration has ended as higher interest rates are a positive for the economy not a negative.

TREND: LOWER

CHART STRUCTURE: EXCELLENT

VOLATILITY---LOW

 

 

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