Today’s idea highlights two other features on TLT’s . First is the descending in place since the beginning of September. This is the same period that the Nasdaq-100 started lagging and sentiment shifted toward cyclical recovery stocks. November's jump in value stocks was a step further in the same direction.
Next, stochastics show TLT being overbought following the recent bounce.
Finally, the most important chart for TLT could very well be oil . Black gold is on pace today for its highest close since its March 9 gap down. Further gains in crude will lift expectations and bond yields, likely putting more pressure on TLT .
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