TLT or long term treasuries are the flight to safety trade, when money is moving out of risk assets like we seem to be seeing on an increased and larger scale, that money has to go somewhere and it usually ends up in a flight to safety trade like treasuries or something like TLT, that's why I find these charts very interesting and maybe worth a trade, especially with a little leverage, it is optionable-watch the liquidity though.
The 1 min chart is more positive than anything, but lone it doesn't look like a high probability trade, the fact it is holding up well with the following charts changes that a bit and it looks much more high probability.
The 5 min chart has more details and shows downside distribution/reversal areas as well as increased positive momentum today. The fact price is moving like it is may back up what I said earlier about smart money being more blatant with positioning because they are in a hurry and not as clandestine as they usually are.
The 15 min chart shows real momentum on the upside recently and shows this possibly as 1 larger base area...
The 60 min chart tends to confirm exactly that.
I think I'd probably be interested in TLT long here, or maybe a leveraged version of one of the long dated treasury ETFs, just make sure there's volume in them, many are VERY thin.
More than that, this is a signal that doesn't look so good for the broader market so you might bypass TLT and instead look at some short positions you like or want to fill out, I'll be looking and let you know if anything pops out.
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