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September T-bonds closed up 1-12/32's at 165-15.

September T-bonds closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off July's low, weekly resistance crossing at 167-06 is the next upside target. Closes below the 20-day moving average crossing at 161-21 are needed to confirm that a short-term top has been posted. First resistance is last-Thursday's high crossing at 166-30. Second resistance is weekly resistance crossing at 167-06. First support is the 10-day moving average crossing at 164-15. Second support is the 20-day moving average crossing at 161-21.

September T-notes closed up 190-pts. At 130.285.

September T-notes closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are diverging but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off July's low, weekly resistance crossing at 132.016 is the next upside target. Closes below the 20-day moving average crossing at 129.222 would confirm that a short-term top has been posted. First resistance is last-Thursday's high crossing at 131.110. Second resistance is weekly resistance crossing at 132.016. First support is the 20-day moving average crossing at 129.222. Second support is the 50-day moving average crossing at 128.129.