How can you identify when a market has reached a short term extreme? Today may be a good example of just that. The bond market rallied and all talking heads on CNBC spent most of the day trying to figure out why. They cited everything from the easy money policy from the Federal Reserve to comments from hedge fund manager David Tepper who said now is the time to be nervous about the stock market. Well, whatever the reason they come up with, we know that days like today cause us to look deeper to see if there may be a trade setup. Guess what? With flashing lights TLT jumped right off the charts. The longer term pattern is bearish meaning it’s moving lower over the next several months to years, but in the short term anything goes. What went today was TLT right into a sweet spot for a low risk trade. Watch the video below to get the details.