10 Year Notes At 3.07%

10 Year Notes--- The 10 year note in the June contract is currently trading higher by 3 ticks at 118/23 after selling off sharply in yesterday's trade as the yield is currently at 3.07% cracking the critical 3% level in yesterday's trade as the bearish momentum continues to get stronger on a weekly basis as prices are right near a 5 year low.

Strength out of the U.S stock market coupled with the fact of accelerating growth in the United States continues to put pressure on the bond market as I have been recommending a bearish position from the 120/18 level & if you took the trade continue to place the stop loss at the 2 week high standing at 120/00 as I still believe prices will hit the 3.50% level in the coming months ahead as there is no reason in my opinion to have these interest rates this low historically speaking.

The notes are trading far below its 20 and 100 day moving average as clearly the trend is to the downside as I think money flows will continue to go into the equity market & out of the bond market sending yields even higher so stay short as I will be looking at adding more contracts on any type of price rally as adding to winners & getting out of losers is the way to trade over the course of time in my opinion.

This was the 2nd short recommendation on the bond market as we have basically been short most of 2018 and it looks to me that I will continue to play this to the downside for the rest of the year as we are in a secular bearish trend that could last many more years to come.

TREND:---LOWER

CHART STRUCTURE: SOLID

VOLATILITY---LOW

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