Monthly continuation chart shown below is another look at a rather substantial Head And Shoulders top. The neck line has been penetrated (again) and this time with quite a bit of increasing open interest and volume which very much confirms this pattern. Unless the market moves above and closes above the neck line a core short position is warranted. See Disclaimer at this time.
10yr. Options flows from this a.m. showing good buying of Bearish put structures in May.
| TY | |||||
| Fimat | B | 4,000 | K113.5 p | 0.13 | 11521.5/22 |
| Barclays | B | 3,000 | K113/115 p spreads | 0.27 | 11519.5/20 |
| RJO | B | 1,500 | K115p | .36 to .38 | 11517-20 |
| J.P. Morg | B | 500 | M112/114 p 1X2's | 0.08 | 11518/18.5 |
| J.P. Morg | S | 1,000 | U111p | 0.55 | 11516.5/17 |
| Barclays | B | 500 | M113p | 0.24 | 11517/17.5 |
| 0 | B | 500 | K117/118.5c1X2's | 0.1 | N/A |
| 0 | B | 1,000 | K112.5/114 pspreads | 0.12 | 11520/20.5 |
| Fimat | B | 6,000 | 114.5/115pspreads | 0.11 | 11522.5/23 |
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