TLT Update

TLT look like it's getting ready for a bit of a flight to safety trade, this has to do with the weekend and the China data dump tomorrow, but the short term vs the long term tells the story in 2 charts.

 A 2 min positive divergence, it doesn't go out much further than this so it looks like some safe haven positioning for the weekend, as I mentioned pros's usually de-leverage in front of a weekend and an unknown like the Chinese data dump. Even though the market hasn't moved down (that's when TLT usually moves up), there is a little upside EOD momentum, this could also be a hedge, if the market doesn't pullback in to the close and TLT moves up, then TLT is most likely being used as a hedge for long positions carried over the weekend.

As I mentioned, the positive divergence is small, it's not a fundamental/primary  flight to safety. The 60 min chart shows the risk on move as TLT positions are being sold, that money is likely flowing to risk assets.