A combination of reports indicating low inflation and rising unemployment sent the bond market into rapture today, with the June Bond contract rallying over a full point at it's peak. Our 5-year note position took a hit as well. It is interesting to note that Fed Funds futures are now indicating that the market thinks the Fed will finish this tightening cycle at the May meeting, at 5.0%. That is a pretty dramatic change from just last week.

In other markets, Gold was up, Silver was down, Copper was down, Crude was up, the Nasdaq was down, and the Dow was up. In other words, nothing very dramatic going on.

Our TNR model went short 3 contracts in NQ around 11:00, and we weathered the small rally before the market trended down for the rest of the day. We exited at our 4:00 close for a net gain of $822 on the day. Tomorrow we are calling for a Trending day in ES and a Neutral day in NQ.

Our open positions:

Contract	ctrcts	Open P/L	days on		Contract	ctrcts	Open P/L	days on
@US.P	0	$0	0		@NG.P	0	$0	0
@TY.P	0	$0	0		@KC.P	0	$0	0
@FV.P	-4	$238	30		@SB.P	3	$6,518	118
@EC.P	0	$0	0		@CT.P	0	$0	0
@JY.P	-1	-$1,588	28		@GC.P	3	$9,510	129
@CD.P	0	$0	0		@SI.P	1	$6,855	80
@C.P	0	$0	0		@HG.P	2	$11,825	197
@W.P	0	$0	0		@LB.P	0	$0	0
@S.P	0	$0	0		@ES	2	$5,175	80
@CL.P	0	$0	0		@YM	3	$1,480	1
@HO.P	0	$0	0		@NQ	0	$0	0
		Total Open Trades			$40,013
		Total Closed Trades			-$14,420
		Total			$25,593

Good luck, and have a great evening!