Predictions of higher long-term Treasury rates suddenly appear to be coming true.  On the last day of 2009, the 10-year yield reversed two ticks past the midpoint of a bullish weekly pattern that began at the low rate of 2.46%.  Yesterday that midpoint was decisively breached, signalling a move to the “D” target of 4.66%.  The breach was reflected in the sharp move down in the June 10-Year Notes futures during the last two trading sessions, forming a powerful impulse wave that wiped out an active bullish pattern.  We will watch the notes market for an opportunity to get short according to hidden pivot principles.  (Posted by Doug McLagan)