The bonds don’t look like they are in very good shape.  They have spent the last four days trying to get through po2 on the daily chart at 121-14.  The target price for this move higher is 122-26.  For price to start lower it will have to go through 118-14 and then the first price objective would be 115-24.  There remains downside pressure on price, but price remains at the same level. 

The 60 min chart has downside pressure being applied to it, but it is an over extended area and trying to turn up.  Price has tried to reach po2 at 119-21 with no luck.  If price can get through 120-11 then P would be 120-29. 

Now the question is, are the bonds contra to the Dow?  If the bonds rally, will it be a flight to safety?