Chart of the Day - Wednesday, January 29, 2025

🏆 Today's Chart of the Day was shared by Mark Ungewitter (@mark_ungewitter). 
 

• Mark points out that long-term treasury bonds ($TLT) have formed a potential Head & Shoulders Bottom over the past month. 
   
• The neckline of this bullish reversal pattern is around $88 (red). Clearing this level would allow for a meaningful rebound. 
   
• Ironically, Bonds topped in September after the Fed cut rates, and they could potentially bottom here around today's meeting. 
   

The Takeaway: Bonds ($TLT) have carved out a potential bottom over the past month.