R3: 103.00/10

R2: 102.80

R1: 102.40/50

Current Price: 102.21

S1: 102.00

S2: 101.80

S3: 101.40/50

Inside range day closing lower on light volume a good clue that sellers are not aggressively pursuing the downside. Residual sell interest is easily absorbed by short-covering into the lows. New buying likely to be seen if rate can hold above the 101.50 area for the week as that would be an inside week at a ten-year low; more than enough for the big players to lighten up on shorts. Stops above the market not likely to be thick until the 103.80/104.00 area in my view.