USM11 – June T-Bond (Last:121^11)

June T-Bond (USM11) price chart with targetsThere was nothing brewing in the news Sunday night to augur yet another flight to “safety,” but if traders are nonetheless about to plow still more of their mostly cost-free money into T-bonds, they’ll telegraph it by popping above 122^22, the midpoint resistance of the bullish pattern shown in the chart. This Hidden Pivot will remain valid as long s the point ‘C’ of the pattern, 122^22, is not breached to the downside. Alternatively, if the pullback begun from last Wednesday’s highs continues, night owls could try bottom-fishing at 120^19, three ticks below a midpoint support (shown) whose correction ‘d’ sibling lies at 119^14.  I am not suggesting that you bid at the midpoint itself because it lies just a single tick beneath the structural support of a prior low.  ______ UPDATE: We did nothing, since the futures traded no lower than 120^25.