TLT still in strong uptrend, above all pivots. Current high of year on 1HR1 / YR1 combo. While stocks have pushed higher TLT quietly back near highs. I could be wrong, but per this safe havens, stock and vix post feel something should give here, either safe havens should be dropping as stocks continue up, or safe havens stay strong and stocks have more of a pullback.
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TLT W lifted from 1HP the first week and cleared the YP the second week. The high is bang on the 1HR1 / YR1 combo. After a 3 week pullback there was just 1 close below the 1HR1 which quickly came back as support.
Now what? While stocks pushing higher TLT has quietly rallied 4 weeks in a row. Not as zippy as first rally but that was when stocks were crumbling. It is hard to imagine a scenario where TLT is at 2016 or even 2015 highs and USA stocks are powering up too.
TLT was above monthly pivots nearly all January, February; below in March but didn't even reach S1, now again above in April. Quite healthy trend, above all pivots again as of 4/1. There was some rejection at AprR1 but looks like coming back here today.