We have been in a very tight range for about a week in the 10-year note, which is a bit surprising due to the volatility that we are seeing in stocks. Although the trading range has been narrowing, it has been a good trade for investors. We as traders can easily spot this type of trade and act on it. We call this type of trade “trading the range” which in simple terms means buying the dips and selling the rallies. Being more precise, traders should look to sell rallies near the top end of the range at 139-22-235 and buy the dip near 139-11-10. It works till it doesn’t. So, I recommend traders to continue to look at these opportunities, but be on guard because the market is coiling, which means the trade could break out of this range and extend in the direction of the move. So, as discussed above, the trend is sideways which means you can buy breaks and sell rallies.