The Nemenoff Report Bonds Lower, S&P's Higher, Silver Higher

By Marc Nemenoff
29 July 2010 @ 10:07 am EDT

Financials: Bonds are currently 15 lower at 126'12. This mornings Jobless Claims were down by 11,000 versus expectations of a decrease of only 4,000. This wasn't great news but the market has looked upon the number as constructive. Yesterday we were stopped out of a recent long position from the 126'13 level when the market traded through the 126'03 level, putting us on the sidelines. Near term support is currently 125'26 and near term resistance 127'12.

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