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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