The long Bond ETF (TLT) has changed its character this week.
We can see in Early September, the SCTR fell below the top quartile reading of 75. The Purple trend line on the relatives strength to $SPX has been broken. So both of those are concerning. The MACD is dropping below the zero line which looks quite ominous.
The big signal today is the price. It broke the uptrend line. The RSI at the bottom is weaker than it was when the ETF made its final low.
Greg Schnell, CMT
About the author:Greg Schnell, CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA).