My view on $TLT (here) is that it’s embarking on a large 5-wave decline of cycle degree. Today’s weakness is so far supportive of that because the move looks impulsive. But, it’s not going to go under $130 in a straight line. That 5-wave cycle C will of course be composed of it’s own 5-waves (which will each be composed of 5-waves, turtles all the way down). Zooming in, today’s action looks to have completed a 5-wave move. So we may expect a 3-wave counter-trend corrective rally in the direction of the orange box.
This is consistent with my thought that renewed weakness in the equity markets is possible.
Note: When articles are first posted, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page. In a nutshell, patrons of any denomination (you get to pick the amount) will be able to read my weekend analyses, Tier 1 members ($20/mo.) get access to all of the articles I write, and Tier 2 members ($35/mo.) get access to those, plus counts on other instruments and my Discord chatroom.