Don't Ignore This Chart!

The Long Bond ETF (TLT) Changes Character

 | 

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.

Good trading,

Greg Schnell, CMT

Announcement from the Author

{{ announcement.content }}

Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. Based in Calgary, he 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 Market Technicians Association (MTA) and the International Federation of Technical Analysts (IFTA).

Greg is also the co-author of Stock Charts for Dummies (Wiley, 2018). Greg joined StockCharts.com in 2012 and has be instrumental in helping launch a variety of new blogs and other commentary platforms. Presently, Greg contributes market analysis commentary to The Canadian Technician, Commodities Countdown and Don't Ignore This Chart blogs. Learn More
Subscribe to Don't Ignore This Chart! to be notified whenever a new post is added to this blog!
comments powered by Disqus