The 10 year experienced a dramatic rise since Trump became the president elect. $TLT got smashed, $GLD got smashed, and rates are going higher. But we already knew that for December?
Now the 10 year has printed 2.25 and EVERYONE is so BULLISH on rates at this point it is annoying. I am not saying that TLT has bottomed considering I called the top in the euphoric stage back in July circled below.
BUT, sentiment is so bearish here…the probability of a bounce back into the “Old Support zone” which is not resistance is Highly Likely.
Looking for 126-128.