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To follow-up on this post from February, Treasuries continue to flirt with falling down the other side of the mountain. By now, you know they have been essentially hanging out at 2008 levels for several months now. While I am not crazy about doing technical analysis on an instrument like TLT, you can see that once the $115 level, which I had discussed in that post, was lost, the selling pressure picked up.
It remains to be seen if “that was it,” in terms of a major top in bonds. For now, though, they are looking uglier by the day after several month of a potential topping process. Here, you can most certainly see that topping is usually, indeed, a lengthy process, which makes all of the talk about a top in stocks and even AAPL seem a bit premature.
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$IWM topped during entire month of February. Note 5 big down days on increased volume (red candles).
More likely it just consolidated. There needs to be more evidence of a top than that. Otherwise, the overarching trend takes precedence. Besides, the attempt at a breakdown was quickly rejected with upside reversal.
the best of ur words why this isnt a top is the way traders non stop shorting this market
and callin’ a top while missing moves up