TLT Update

As you know from yesterday's Treasury Update the move didn't make much sense to me, I thought there was some fundamental news and in fact ths morning I posted some that  think had somethng to do with yesterday's melt-up. At ths tme, I view yesterday's move as a boost to treasuries so the locals could get better positon on a short trade a day before the article came out which cast the U.S's credit rating in to doubt.

You may remember it was just several days ago I put out a call for TLT to pullback, which it dd untl yesterday, I'm still uncertan on the big picture, but I'm leaning toward a short term bearish bias, maybe more then just a pullback, but we'll let the charts unfold and tell us what's going on.


Here's the updated charts for today.

 The red arrow is when I said TLT should pullback.

 Here's yesterday and today's intraday chart, there's certainly no follow through on such a bizarre move, this makes me think (along with the lack of strong accumulation) that the move yesterday was used to short in to.

 The hourly chart remans bearish

 As is the 30 min 3C chart of TLT-shorter timeframes are inconclussive.

As for classifying the swing trend, it is still down. The red candles are the trend, the yellow candles, not having surpassed the signal candle, are noise.

I'll update this very odd situation as more s exposed, but I have a feeling that we may see some changes in the market/treasury correlations shortly.