Bears refreshed the impulsiveness of the hourly chart within the space of Wednesday’s steep decline, but considering how far T-Bond futures had come in recent weeks, a further correction down to the consolidation zone near 147 would hardly be out of line. In the meantime, the September contract is a speculative buy for night owls who are camouflage-equipped, since the futures were noodling around near the D target of the pattern shown, as though fixing to disabuse shorts of the notion that profits would come easy in the wake of the recent run-up.
