Numerous rally attempts failed to clear the midpoint pivot of the bearish pattern shown, and so the futures are now a strong bet to complete their descent to its ‘D’ sibling, 141^09. This is an important number, since any slippage below it would look quite menacing on the weekly chart. Camouflageurs should look to get long on the 5-minute chart or less, preparing to pounce if and when the futures hit 141^13 on the way down. ______ UPDATE (February 18 at 10:50 p.m. EST): The futures have rallied moderately from one point above our target, providing what looks to be a temporary respite in the downtrend that has prevailed since summer. With extremely tedious range-trading since late January, however, the bonds look like they are in no hurry to upset anyone.
