Alas the February 8th low in bonds turned into only being a very small degree three down from January 28th.
The S&P 500 futures fell initially overnight but have been rising this morning after they couldn’t break under 3887.75.
Bonds started higher on the day but ran into old support turned resist at 168^04 to 167^29 and fell away from in to have a down day.
Bonds have held up as expected though slowing as it runs into the first extension targets up.
The rise in S&P 500 futures overnight has weakened the case for the high having been set yesterday.
Bonds tested support at 166^22 today and pushed up over 167^12 and thus are on plan.
Bonds are trying to wake up but there is work to be done.
S&P 500 futures pushed to test resist at 3928.75 on the CPI number this morning. Is that the high?
Bonds poked briefly above 167^12 today before falling back to between that and 166^22.