Update on 30 Year T-Bond and eMini

11:11 am EDT:  Per our morning report, see Wall St. Cheat Sheet’s Chart Junkie page for the 30 Year T-Bond chart created earlier this morning.  With the 10:00 am Existing Home Sales greatly exceeding expectations (ours included) and breakout of the S&P 500 through resistance, the final bar on the 30 Year has now reversed nearly the entire week’s gains.  It will now likely head down into lower support as equities continue to climb into early next week, even if today’s move is largely over.  In the ES, we would expect some consolidation now and perhaps another late day surge.  We remain intraday bullish as long as the ES holds 1014.00.

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