Although some aspects of markets never change, specific volatility and price patterns evolve over time, and only those traders who can adapt their strategies to the prevailing market conditions are likely to enjoy sustained success.

"Dissecting T-note futures: Tendencies and characteristics", (Active Trader, July 2005) details the behavior of the 10-year T-note futures (TY) contract from March 1, 2004 to Feb. 28, 2005. This updated analysis reviews the 10-year T-note from July 3, 2006 to June 29, 2007 and highlights any changes in this market’s trading attributes.

The characteristics the analysis covers include the market’s typical daily ranges, closeto- close moves, lows for up-closing sessions, and highs for down-closing sessions.