Today’s Chart of the Day was shared by Ian McMillan (@the_chart_life). It's a chart of the iShares 20+ Year Treasury Bond ETF ($TLT) since 2010. The bond market was closed for Columbus Day today, but that didn't stop $TLT from sinking to its lowest level in more than a decade. It's fallen for six consecutive weeks now, and it dropped below $100 today for the first time since 2011. Ian points out that it sliced right through potential support at the 2013 lows like a hot knife through butter. $TLT needs to reclaim those 2013 lows in the near term, otherwise, there's no clear support until it reaches the 2011 lows around $88.
Chart of the Day - Monday, October 10th, 2022
October 10, 2022
