T-bonds

Here is an hourly chart of December T-bond futures. I last commented on this market here.

I expect the bonds to be supported at 113-02. This is a tad below the level of the last top and would make the reaction from today's high at 113-19 equal to the reaction of November 7 - 8.

I still think the market will make it to the 1/2 point of the current box at 115-01 before a substantial reaction begins.