Treasuries

Besides the Euro ETF being positive and the $USD ETF being negative, as I mentioned yesterday from the charts it looks like a high probability stop run in the EUR/USD, I also looked at Treasuries as they tend to be another good confirmation indicator.

Treasuries are a flight to safety trade, they'd be up on a day like today, but lets take a loom at the charts...

 Even on the fastest timeframe TLT (long dated treasuries) are not only negative, but there's no hint of a positive divergence sending them higher today, it's just a correlation effect.

 Broaden out the same chart to see if there was a positive divergence earlier that would explain it and there isn't, but there is a trend that is seen among other timeframes.

 The 2 min chart negative-this is a good example of a relative negative divergence as price is near the same level at the highs so you can make a "relative" comparison.

 3 min leading negative, note the trend around the 5th and the leading negative today.

 5 min with the same trend

15 min with the same trend.

What does this mean to me? Well first there's no positive divergence in Treasuries, a flight to safety trade and today there's no confirmation in them either, in fact they are negative which suggests they should see downside, being they trade opposite the market, that's why I put the charts up.