Early today, LABD was exited having hit the stop.
If there is a story for the day, it’s the long bond TLT.
Potentially a nascent reversal.
Interest rate sensitive markets, like real estate, appear positioned for reversal as well.
Inverse fund DRV above, shows penetration below support and then testing action today.
We’re at the extremes of price action. IYR and DRV do not need to go far to confirm or negate a reversal condition.
At this point (1:03 p.m. EST) our ‘project’ has no position … although DRV looks enticing and low risk (not advice, not a recommendation).
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