Clearly a lot of pressure on FI post strong data, 2/28/19, Ian C. Burdette, CFA, CMT

FV made a classic 'head and shoulders' pattern and the neck line was convincingly broken this morning at 114-21 - confirming the pattern. The pattern high was 114-29¾ and neck line at 114-21 - price target projection from the pattern is 114-12.25.. Session low so far is 114-14.75.. We are definitely in the 'cover zone' if short. I like the 'week 1 114-08/114-16 combo' (expires tomorrow) if we could get for ~0'02 (minis).. Current mkt is just 3/4, still pretty cheap for an upside trade off the lows into a possible 'extension' trade later in the session:


Ian C. Burdette, CFA, CMT
Senior Managing Director