So what does that mean practically for someone who is currently long, or for someone who wants to go long believing that long-term interest rates will go lower?
I myself will not be a buyer here, TLT was down - $1.46 today at the exact resistance I mentioned, it is a good area to watch , the $133 resistance is strong, I shorted TLT this morning at the open at $132.50 , a small position, my stop loss is $133.10 , very minimal risk. I also shorted SNAP at $14.86 yesterday, today was down to $14.55, both are short term trades .
On TLT, some indicators I use flashed a short term sell, it hit the upper linear regression on the chart which means it is over bought, plus there was a diversion on the 14 RSI and CCI , they did not make a higher high while the price did, alse the 21-8 time series gave a sell too.