USZ09

The futures looked bound for a tradable low at 117^06 when the day ended. That's a Hidden Pivot, and you could bottom-fish there with a 117^02 stop-loss if it's hit today or Friday. Additionally, a midpoint pivot at 118^27 is a logical place to try and get short, provided you can find a pattern that allows you to do so at the point 'p' or 'd' of a minor trend rally. _______ UPDATE: The futures went no lower than 117^22, so we did nothing on the order, which should be canceled.

Friday's surge, powerful as it was, failed by three ticks to reach the 120^17 target shown in the chart. The  move was bullishly impulsive nonetheless, suggesting that buyers are capable of  pushing the futures toward a test of some key highs near 121 that were recorded earlier this month. If the rally spears both of those highs in an unpaused push, it would likely end October's correction from near 124 and tilt the intermediate-term bias back to bullish.

The bonds will have an opportunity to turn powerfully bullish with a relatively modest push if they can inch up to the launching pad near 121.  The chart shows three peaks in fairly close proximity, and if an uninterrupted thrust were to exceed all of them, that would put the futures on track for a shot at 124^00.

The futures have been working on a bullish, 125^12 target for five weeks, at least in theory, but they can't afford to back pedal much more without turning the daily chart moderately negative.  A print down to 117^17 is where trouble would begin, but a bit lower, hitting 116^29, would put bulls on the defensive.

The Hidden Pivot support at 118^22 where I'd recommended bottom-fishing worked precisely, catapaulting bonds to a 1^02-point rally from a low of 118^20. Since a three-tick stop-loss was suggested,  risk:reward was highly favorable for an exit or partial-profit taking above 118^31. The bonds came back down after this gratuitous spike, but they had not taken out the 118^20 low as of late Thursday night.

The bonds have been weaker than I'd expected, but they'll have a chance to reverse course today at the 119^29 midpoint of the downtrend shown in the chart. You can bottom-fish there with a stop-loss as tight as three ticks, but if it's hit expect the futures to continue south to at least 118^22. ______ UPDATE: Bonds trashed the target, rallied for a bit, then returned to looking like hell by day's end. The 118^22 target is in play and can be bottom-fished with a 3-tick stop-loss. I suggest using the mini-contract.

The futures blew past a 122^22 target, but there's another at _____ that in retrospect looks too compelling to have been overlooked (see chart).  I expect it to show tradable, and precise, stopping power; but if not, and the Hidden Pivot yields easily, the futures would be signaling more upside over the near term to _____, the highest number I can project without stretching my imagination.

At yesterday's peak, the futures were just a few ticks shy of a potentially important Hidden Pivot target at _____.  If it fails to contain the surge, however, look for another topping possibility at _____, a Hidden Pivot that you can short with a tight stop-loss. Switch to a 5-tick trailing stop on a pullback of  10 ticks, and use 121^24 as a minimum downside target.  A top of at least short-term significance is loosely corroborated by a _____ target for TBT that I disseminated in the chat room yesterday afternoon.

The futures have the potential to hit _____ on the next thrust - a target that has been corroborated by the stall within two ticks of its sibling midpoint 120^11.  The best way to board would be to use a camouflage 'B' that is recorded somewhere between 120^14 and 102^16.The opportunity could come and go quickly, so you'll need to be ready.