TLT Update - Market Analysis for Nov 24th, 2019

Well, let’s end the weekend with a quick update on the TLT.

For the last few months since we topped, the TLT has not provided us with strong clarity as to whether it wants to set up for a higher high sooner rather than later.  So, I have been waiting for a clear 5-wave structure off support which provides us with a corrective pullback, and follow through over the top of the initial 5-wave structure to suggest we are rallying to higher highs.

As it stands right now, I would need a bit higher for TLT to give me a potential 5-waves up off the recent lows.  If we get that, then we can begin to track a long trade set up.  But, until that happens, the downside follow through in the bigger green c wave of the (b) wave is just as likely.