Long Bonds

The retest of the gap lows on a contraction of volume suggests that the downside force is weakening. From an limited intermarket perspective of risk-on (stocks) risk-off (bonds), the bullish setup in bonds could be foreshadowing break in equities at least over the short-term. Bear in mind that a window for a larger decline in equities, while nearing, is not open.

US Long Bonds ETF (TLT)