The TLT(iShares 20+ Year US Treasury Bond Fund) has not been this overbought(based on RSI in multiple time frames) since the end of 2008. As 2009 began the TLT dropped 25%. In 2016, when TLT again reached similar overbought readings, the index fell 20% by the end of the fourth quarter. A near term top may be forming in the long end. We are monitoring the TBT and TBF for potential long positioning.
TBT/TBF (ProShares UltraShort 20+ Treasury Bond ETF)
Hat tip Charlie Bilello