The December US T-bond contract fell to a new 4-month low of 171-22 during October, extending the major (long-term) downtrend before closing the month at 172.15. The downside target area is between 165-11 and 154-10, and with monthly stochastics still well above the oversold level of 20% there is plenty of momentum for the the market to move lower. The continuous weekly chart has stochastics below 20% meaning the secondary (intermediate-term) trend could turn up. Secondary support is at the 4-week low of 171-22 posted the week of October 19.