TLT searching for support

TLT looks like it may be working a wedge of its own. If so, a move above the upper downtrend line would likely signal it's ready to rally.

Tony Caldaro also mentioned over the weekend that bonds were approaching his target. There is support close by, both from the Elliott Wave prior 4th wave consolidation and the highs of that consolidation (there's also the .786 retrace if a .707 retrace isn't enough).

Lots of eyes on bonds of course as a refunding approaches this week.