USZ10 – December T-Bonds (Last:129^11)

We’ll have a better idea of whether the selling of the last two weeks is the beginning of a bear market or merely a correction of the long-term bull if and when the downtrend hits 128^05, a Hidden Pivot that can serve as our minimum downside objective for the near term.  An overshoot of as little as 3-4 ticks would warn of more weakness to come, and a close below the support would be still more bearish. Please note that there is an alternative pivot at 128^17 that could also provide a hidden turning point.