(M9) Stems Further Weakness *RES 4:......>

GILT TECHS: (M9) Stems Further Weakness

*RES 4: 129.50 Breakout target

*RES 3: 127.68 High Feb 14

*RES 2: 127.62 High Feb 22

*RES 1: 127.55 High March 12

*PRICE: 126.67 @ Mar 14 Close

*SUP 1: 126.50/43 50-dma/Low Mar 12

*SUP 2: 126.12 Low Mar 6

*SUP 3: 125.86 Low Mar 5

*SUP 4: 125.55 Low Mar 1

Gilt futures gapped lower at the open, testing the week's worst levels at

126.43, but a modest rally kept markets from establishing any major negative

momentum. The 50-dma remains the downside target & a close below here would

shift the near-term outlook negative, opening the Mar 6 low. On the upside bulls

look to the Tuesday high at 127.55 with a break above here bringing the Feb 22

highs into play. A break would allow a challenge of the Feb 14 ytd high.