Someone mentioned a 124^07 rally target in the chat room, and I concur — albeit with less confidence than I’d have if the ‘B’ of the rally pattern shown had exceeded the 123^14 peak.  That would have “legitimized” the A-B impulse leg, and with it the target itself. Regardless, the fact that the futures have closed above my longstanding target at 123^21 strongly implies that higher prices are coming.  I’ve tried to make sense of this in today’s commentary, but in the end I will rely solely on charts to tell me when, for one, interest rates may be bottoming.