TLT actually touched its 50 day moving average briefly yesterday before rallying slightly, and thus far it has successfully remained above this level for the past 9 trading sessions.

Based on recent activity, it seems clear to us that investors are rotating back out of Treasuries, and perhaps redeploying the proceeds elsewhere (equities, or cash potentially), and furthermore, one large institution or institutions are making an aggressive short bet against long-term Treasuries via TMV.

The bond market is closed Friday for Veterans Day, although the ETFs will trade as the stock market is open.

Direxion Daily 20 Year Plus Treasury Bear 3X

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