Maybe this won’t play out the way I’d like it to, but I’d prefer more of a pullback before opening a position in TLT, say back to it’s 50ma. Given that today’s gap up 2% rally was on weakened volume it still could make it’s way down to that important moving average. The RSI is still in bull mode and could support a move down near 100 before I’d start to get worried about a new downtrend starting.

All this talk about the death of bonds is nonsense at this point given how bullish this chart is. That could change is the chart undergoes significant technical damage, but at this point that is not the case.