Rates on the 30-Year Bond have bounced sharply from well above a 2.874% target I’d flagged. This is bullish, but the move would need to exceed 3.140% on the daily chart to become technically significant. TNX, currently trading for around 3.088,  could get there in just 2-3 days with a good push, and that would set up a possible test of highs near 3.200% that have repelled rallies since December 2016. That’s the upper threshold of a range that has produced lows near 2.650%. This vehicle bears close watching, since a move above 3.200% is going to increase pressure on two key areas of the economy that are particularly sensitive to interest rates — housing and auto leases. Stay tuned for timely updates if you care. _______ UPDATE (August 19, 5:07 p.m. EDT): TYX poked ever-so-slightly above 3.140% and then died. The impulse leg this upthrust created on the daily and intraday charts is bullish, but subsequent price action suggests the trend is weak. A pop above p=31.02 would re-energize it. Here’s the updated chart._______ UPDATE (Aug 28, 11:19 p.m.): My minimum upside projection is 3.072%, but an easy push through that Hidden Pivot ‘midpoint resistance’ would imply still-higher rates ahead — as high as 3.180% over the near term._______ UPDATE (Sep 24, 10:32 p.m.): Rates have pushed strongly higher since the last update, exceeding mid-May’s  3.247% peak to generate a new impulse leg on the daily chart. This implies that long-term yields are headed still higher and that any softness should be regarded as merely corrective._______ UPDATE (Sep 30): Rates on the 30-Year have pushed past a Hidden Pivot midpoint resistance at 3.205%, although not yet with sufficient vigor to warrant the presumption that more upside to the 3.485% target is a done deal. The chart nevertheless holds bullish implications for rates, meaning they are likely to head still higher. The AB impulse leg I’ve used to arrive at this conclusion is derived from a subtle but nonetheless valid application of Hidden Pivot rules, as the chart should make clear._______ UPDATE (Oct 3, 8:14 p.m.): Yields took a big leap today toward the 3.485% target. Expect it to be reached by November or earlier, although not with quite the manic energy we saw this afternoon._______UPDATE (Oct 7, 5:14 p.m.): Two big leaps last week have pushed rates toward the 3.485% target much more quickly than I’d expected. The target is now even more likely to be reached, but I doubt it will be via a finishing stroke as powerful as the surge we’ve just seen. Here’s a fresh chart.