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Downside action in bonds today have to do with the employment report? Nah, or not much at least.
The power of the pattern would suggest bonds have a bigger issue on their hands than the report today. Five weeks ago TLT created a bearish wick at falling resistance and now this week it looks to be creating an engulfing bearish pattern.
Houston….TLT could be having a problem as it pushes away from resistance and breaks support!