Chart of the Day - Monday, September 12th, 2022
September 12, 2022
Today’s Chart of the Day was shared by Greg Rieben (@gregrieben). It's a daily candlestick chart of the 20+ Year Treasury Bond ETF ($TLT). Bonds are having their worst year in history, and they continue to make new lows on both an absolute and relative basis. The June lows, around $108, are the line in the sand for $TLT. Above $108, the risk is to the upside. Below $108, the risk is to the downside. Bond bulls are hoping this will morph into a failed breakdown, but it's premature to make that bet as long as we're below the Junes lows. Are Bonds about to make another leg lower?