There are two potentially tradable supports in the hourly chart: at 39.95, a Hidden Pivot midpoint; and at 38.85, its ‘D’ sibling. A stop-loss of 0.15 points is as wide as you should use — and please note that bottom-fishing at the lower number is a more conservative play. Since this vehicle correlates inversely with the long bond, the projection implies that a sharp rally lies immediately ahead for Treasury debt. ________ UPDATE: A long position initiated at the “conservative” pivot referenced above would have enjoyed favorable odds, since TBT rallied 45 cents after bottoming at 38.78.