TLT-Flight To Safety Trade

One of the 5/15 min charts I featured last night was TLT (30+ year Treasuries). This morning TLT, which moves inverse to the market, looks vulnerable up here.

I noted the break below the channel on increasing volume (head fake move) in white that occurred before the upside reversal in TLT/Treasuries. The uptrend that looks a little like a bear flag, although the scaling of the flag vs. the preceding downtrend is all wrong, has been on diminishing volume. Today's gap up in TLT not only looks vulnerable from a gap perspective, but also from a possible head fake move outside the  more recent (April-May) uptrend. Last night's 5/15 min TLT charts had negative 3C trends/divergences as well.

If the market were to move up, TLT would almost certainly have to move down.