BOBL: Large Calendar spread

• RES 4: 5865.42 200-dma     
• RES 3: 5837.25 High Mar 25 and a bull trigger 
• RES 2: 5773.25 High Apr 2       
• RES 1: 5724.75 High May 2                               
• PRICE: 5664.75 @ 14:22 BST May 5 
• SUP 1: 5511.99 20-day EMA                        
• SUP 2: 5355.25/5127.25 Low Apr 24 / 21 and a key support
• SUP 3: 4996.43 76.4% retracement of the Apr 7 - 10 bounce
• SUP 4: 4832.00 Low Apr 7 and the bear trigger

The latest recovery in the e-mini S&P reinforces current bullish conditions.The contract has traded through the 50-day EMA, at 5620.87. A continuation of the bull phase would expose 5837.25 next, the Mar 25 high and a bull trigger. It is still possible that the entire rally since Apr 7 is a correction. A reversal lower would signal the end of this corrective phase and expose initially, support at 5127.25, the Apr 21 low.

• Close to 150 pips range for the USDJPY, the Yen has taken over the AUD as the best performer in G10 against the Greenback.
• The cross has fully cleared Friday's low that was situated at 143.73, and the next support will now be seen at 142.88, last Thursday's low.

• On an otherwise quiet start to a FOMC week and spring holiday closures -- today's potential outsized corporate issuance from Apple Inc and Comcast likely tempered the recent bounce in Tsys - spec-tied selling ahead of rate lock hedging has pushed futures back near early overnight lows:
• Tsy Jun'25 10Y back to steady at 111-05 after rising to 111-13.5 (+8.5) ahead of the opening bell, early overnight low at 111-04.5. Initial technical support is at 111-02 (Low Mar 2 / 50-dma) followed by 110-30.5 (50-day EMA). A clear breach of this average would strengthen a bearish threat and expose 110-16+, the Apr 22 low.