TLT Update

This is just a quick update for the moment for any of our bond friends. Last week I posted a TLT (20+ year Treasuries) update, TLT / Treasuries with the bottom line being, after a big run up most of 2014, 

"Here's TLT, it looks like it's going to pullback, but I don't see this as a TBT (20+ year UltraShort) trade opportunity, but perhaps a treasury pullback buying opportunity if you are looking for something very long term."

Today TLT is down a significant -1.86%. This is what the longer term and the near term look like, put them together and it looks like more downside for TLT, but probably a great buying opportunity on the pullback in the near future. *I also looked at 10 and 30 year Treasury futures, all look the same at least as far as the pullback. There's not quite enough history on the TOS platform to show the longer term trends that are positive, in any case I expect most of the treasuries to act in similar fashion.

 Here's today's TLT drop which is significant for the asset.

 The long term daily 3C chart has a huge positive divegrence /  stage 1 base of 6 months so it's no surprise it has supported the 2014 trend and it's still in line so additional gains in the near future are very likely.

The 60 min chart is also still in a confirmation mode of the uptrend despite shorter term charts warning of a pullback,  this is more evidence of the probability of an upside resolution making buying the  pullback a high probability trade at some point.

TLT's 15 min going negative right at the top.

And the more detailed 10 min also leading negative in to last week's highs.

The 5 min chart turned negative at the exact perfect timing and is still in line.

I'd say expect more near term downside here, but as these shorter to intermediate charts start turning positive (as the long term charts suggest they will), TLT looks like it will be a fantastic buying opportunity on the pullback.