Today: The 10 yr. Note futures are trading in a quiet range thus far early this
morning, but are looking like they may want to try to extend a bit lower yet.
The level to watch down here is yesterday’s low of 122.065, and once below
there, that may be where we attract some fresh selling. This move up has
been fairly vertical, so there is always a chance we crack off now and retrace
some of this upward action, though no real signs have come out yet to show
we are ready for that. Note that if we get below 122.065 and begin to slide,
there is potential in a more long term perspective, to go down to 121.00.

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