TBT Charts

TBT charts... This is the mirror opposite of TLT, TLT was giving us signals that TLT long looks good, which would be a market negative. TBT to confirm would have the exact opposite signals as TLT and it does confirm the important stuff, but timing wise says we may have a little time, I'm talking about intraday on 1-2 min charts.

 TBT 60 min is leading negative which confirms TLT's leading positive 60 min chart, both suggest the market is in some trouble.

 Now at the other end of the timeframe spectrum the 1 min chart has a positive divergence, usually I'd say there's a danger that this is a consolidation signal only as a 1 min chart signal only can often be, but we have  another timeframes below.

 The 2 min, so this looks like we have a little time before these move, I don't know how much, I'm thinking intraday, which fits with what I've thought about a reversal all along.

However at 3 mins there is NO SIGN OF A POSITIVE DIVERGENCE, this tells me that the positive is very weak, probably only meant as a short term page holder and that's about it.

Because of this I'm not rushing in to any positions, but definitely looking and adding in areas that I like, this also make TLT long on a slight pullback a very nice looking set up.