The futures are at a crucial resistance — the 124^31 Hidden Pivot midpoint of the big pattern shown in the chart.  It projects to as high as 130^04 (!), but there is also a lesser bullish pattern that suggests 128^17 is possible without a lot of strain. It’s midpoint sibling lies at 125^07, so let’s stipulate that if the the futures exceed 125^07 on a closing basis for two consecutive days, they should be considered on their way to significantly higher prices. That would be bad news for equities in the U.S. and elsewhere, since it implies a full-blown panic into the supposed safety of U.S. Treasury paper.