TLT / TBT Spec Position

I still expect a very short term TLT pullback as I have maintained since yesterday, this is very short term. That should loosen up downside pressure on the market during any such move. I think it is a tradable move for those who are very nimble, but rather than using any of the averages, I chose TBT, 2x leveraged short 20 year bonds, or 2x short TLT, the reason being is it has the 1 min positive divergence that confirms TLT's 1 min negative, the averages don't have positive divergences and I don't like trading something that isn't showing an edge. Again, this would be a quick trade/scalp and speculative, but here's how it's shaping up both very near term and right after (longer term or bigger picture that is right on the door step)...

 TLT's gains this morning sending yields plummeting as not only TLT, but the larger bond complex rallies, but as I said earlier, a little too parabolic for me intraday and I was expecting a TLT pullback as of yesterday in to today anyway so the chart makes sense.

 This is TBT, it is the 2x leveraged inverse or short TLT ETF/Bond Fund. Note that like TLT's 2 min chart which is perfectly in line with the upside gains (confirmation), the TBT 2 min chart is perfectly in line with the downside losses on the same 2 min chart.

Generally speaking, TLT trades opposite the market, TBT with the market so the very short term looks like TLT pullback, TBT bounce/market bounce, but only TBT is showing a positive divegrence on the intraday 1 min unlike the averages.

 Remember TLT's 10+ min charts leading positive, this is TBT's 10 min chart confirming TLT by leading negative and rolling over as I expect the market to do as it forms the Igloo/chimney price pattern seen just before reversals. Even the dates that started TBT's rally are exactly the same as the broad market averages. In other words, this chart alone is bad news for the market to the downside for both and that's without even including TLT's confirmation.

However intraday, TBT 1 min has a small positive divergence unlike the averages, thus TBT long for a VERY quick speculative scalp looks entirely possible and reasonable if you have that kind of risk tolerance.