TLT has done nothing to alleviate a dismal picture on the long-term charts. I am switching the view this week to a chart of long-term Treasury rates which points toward 5.078%.  It would be the first time they’ve traded above the psychologically important 5% level since July, when a peak at 5.077% was recorded. My gut feeling is that anything that close to last May’s watershed  5.153% would be tested and exceeded, putting Trump’s plans to stimulate the economy in jeopardy. His lips have been pushing hard against the uptrend in yields, but market forces seem to be winning.