The long bond market (TLT) continues to climb higher in price, but today marks a move outside the trend. The long bond is breaking out to the upside and recently crossed above the 200 DMA. We are seeing the other bond ETF's like IEF moving above the 200 DMA.
This move to safety is on the back of significant weakness in the commodity market that seems to be extending.
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).