Someone declared in the forum that the long bond was tanking, but “correcting” is more accurate from a Hidden Pivot perspective. On the daily chart, based on the clear and compelling pattern shown, the March contract could come down to 143^16 without evincing even a whiff of bearishness. That would merely extend the tiresome series of ups and downs — an apparent consolidation — that has been dragging on since last summer.  Notice that a larger pattern shown in an inset allows a corrective move all the way down to 141^19.  As a practical matter, we’d need to watch things closely at that point, since any downtrend that exceeds an obscure and seemingly unimportant May 10 low at 142^18 would be bearishly impulsive on the daily chart.  Click here to sample Rick’s Picks free for a week, including daily trading ‘touts’ and access to a market-savvy chat room that goes round-the-clock.