Chart of the Day - Thursday, October 19, 2023
Today’s Chart of the Day was shared by ForexLive (@ForexLive). Bonds continue to fall off a cliff, with the +20-Year Treasury Bond ETF ($TLT) dropping to its lowest since 2007. Another -3% lower would mark an all-time low for $TLT. ForexLive points out that volume set a new record today, with $TLT trading more than 87 million shares. The previous record was set on the day of the all-time high in 2020. Volume spikes often indicate capitulation. However, you never really know when enough is enough. You're better off sticking with the trend, which remains unequivocally lower.