T-Bonds got a strong lift from Friday’s panicky sell-off on Wall Street. TLT became a good bet to reach p=91.24, at least, but a decisive move through this Hidden Pivot, especially on first contact, would imply more upside to p2=92.63, and thence to as high as D=94.02 over the near term. Although the pattern is a conventional one with a ‘C’ low above ‘A’, it is sufficiently compelling to lend authority to the bullish case. Assuming D is achieved, look for stocks to continue lower, with hard selling in the institutionally driven lunatic sector (a.k.a. the ‘Magnificent Seven’) and in Bitcoin.
$TLT – Lehman Bond ETF (Last:90.60)
