I’ve identified bearish targets well below these levels at, respectively, 81.64 and 77.49, but I’m giving every countertrend blip the benefit of the doubt so that I am not caught unawares if an important turn comes. This blip was Thursday’s gap-up rally above two prior peaks on the daily chart, one of them ‘external’.  That generated a bullish impulse leg, implying Friday’s mild sell-off was merely corrective. (The weakness also failed to reach a downside ‘d’ target, which adds to the short-term-bullish picture.) Let’s see what the new week brings. If TLT can push above the 88.21 ‘external’ peak recorded on May 7, that would be worthy of serious attention. ______ UPDATE (Jun 20): A tedious, disappointing week, although by no means cause for despair. TLT still needs to fist-pump above the 88.21 peak from May 7 to command our respect.