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I haven’t traded bonds (via TLT) in a while, but I’ve been watching them with interest (heh). I read this morning how all the big boys shorted the bejesus out of the bond market early this year and are seeing their positions get ripped to shreds. I think plenty more ripping is in store. The smart money, it seems, understand bonds as a safe haven for the shitstorm that’s forthcoming.
A quick and early post today as I need to be away at a funeral all day.
Yesterday was the second day of the current ride up on the daily upper band, and SPX closed the day six points above the band. That most likely limits upside today somewhat but 1920 would still be in range. I’m not expecting this band ride to end yet but if it does then middle band support is in the 1885 area. SPX daily chart:
