Market Analysis for Sep 30th, 2005

While the Q's digest their gains from yesterday PM in the vicinity of 39.35/30, possibly ahead of another late-session window-dressing thrust prior to quarter-end, and the e-SPZ circles unchanged, but preserves key support at 1230.00, which keeps yesterday's upleg intact and viable, 10 year T-note prices are sagging (longer term interest rates are ticking HIGHER), perhaps reflecting stronger-than-expected economic data released early from Chicago area Purchasing Managers... (their Sept. survey came in at 60.0 vs. expectations of 52.0, and an Aug. reading of 49.2)... Have a look at my updated daily chart analytics of the Dec. T-notes... The equity chart that would mimic the price action of intermediate-longer term bond prices is the TLT, which is trading now at 92.14. A break of 92.00 points to a plunge to 90.00.

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