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Mixed futures once again, but bond yields are higher

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Equity futures are mixed this morning and we're currently seeing S&P futures breakeven, NASDAQ futures higher by 12 and Dow futures off 22. Bond yields are higher for all three of the major treasuries this morning and that should help many NASDAQ stocks. Fair value for today is $6.83 with buy programs at $8.72 and sell programs set at $5.12.

10-year Treasury YIELD Chart - 60-minute interval.

Late in yesterday's bond market session, the yield on the 10-year Treasury moved above our downward trend. Soon after, the NASDAQ Composite moved higher from its session lows. There were a number of things yesterday that had me changing my stance regarding the closing of put options in the SOX.X for bearish traders and this bond yield activity was one reason. In recent past, we've also started seeing some stocks act stronger by holding levels of support that have been deemed "critical".

JDS Uniphase close to winning approval

JDS Uniphase (NASDAQ:JDSU) shares are moving higher this morning to $51.75 in pre-market trading amid reports that the fiber-optic components manufacturer is set to win federal approval of its $18 billion purchase of SDL (NASDAQ:SDLI). Yesterday, shares of JDSU closed at $50 and shares of SDLI finished the session at $185.63.

Jeff Bailey
Staff Analyst

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