Towards the Horizon

Looking out to next week, Treasuries are coiling above the key $120 level here on the TLT ETF, seen on the daily chart, below. Should they break over the highlighted consolidation next week, it may give bears some ammunition to bring equities down some more in a standard "risk off" short-term environment. 

As for today, the action remains mixed, with some clear standouts on the long side I will highlighted for Members, but also with some cautionary signs remaining. 

It will also be interesting to see if the VIX can withstand any of these snapback rally barrages in equites. Thus far, the VIX products are not collapsing like they have in the past.