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The IEF Index(iShares Barclays 7-10 Year Bond ETF) is dipping below last week’s low this morning.  Last week the IEF posted its best daily close of 2019.  The $107.00 area, which has now capped the March and May highs, is looking rather ominous.  In the near term this is good news for stocks. 

Last week we highlighted the TBT(ProShares Ultra Short 20+ Year Bond Fund) as a long side trade.  We are long it in some managed accounts.