Survival is the Goal

Quick final hour update here in a hectic market session to note that earlier today, around 11am EST inside Market Chess Subscription Services, I sold my double-bear Treasuries bet, TBT long, as the TLT ETF was testing its 200-day moving average--You can see as much on the TLT daily chart, updated below.

My long-term view that rates are going higher and TLT is going lower is intact. But I will keep trading the edges when possible and looking to get in and out of the trades like that one.  

With the Stimulus Bill now apparently on the shelf after the latest Trump tweet sent markets diving, just when it looked like bulls were home free, the big development technically for me today was seeing the IWM (small caps) reverse hard from up around 2% to now red as I write this.

Moreover, failing to (apparently, pending the final hour here) hold $159 as a breakout level in combination with the hard reversal down is something likely not to be ignored. 

In sum, survival is the goal as this market is acting jittery, on edge, and in dire need of more Stimulus which may not come until politicians from both parties get scared straight, which may be a bit lower than bulls think...