If you look at TLT volume and direction, same UVXY and SPY... looks like today's drop is a flag, not a trend day. It's prob. not really time to go short yet.
The bullish trend appears to be still intact. More pullback likely (given the price and RSI channel). Note MACD is still positive.
Long only confirm 129.67 Channel Break invalidates bear divergence
Price & Osc not yet complete - could fail to confirm Watching R3 $130.
long over fib 128.79 only watch pivot 129.21 if fail/reject
TLT shows a bit of weakness but the uptrend is still intact. Given the lower high, I would worry if it makes a lower low next week.
MACD sloping downwards, RSI moving down, Stoch RSI at about 20 moving sideways
Chart expresses thesis visually, no trade setups in either instrument for me.
long. watching pivot 132
RSI and MACD are good. Note the up ticking of 40 week MA.
TLT had a wild week, closed the week with gain but gave bak big portion of it. Weekly trend is still up and technicals are good.