TLT Price Target Hit

Bonds surged today as economic news pushed interest rates down. Despite looming Federal Reserve interest rate hikes, bonds defied expectations and continued rising. It was no mystery however as prices recently fell below the head and shoulders neckline above 122. As price broke through 122 today, touching the neckline, many technicians view this as a sell point. While stochastics are rising, it's a good time to join the concensus and consider positioning for a down move. Underneath the test of the lows here is another neckline for a massive head and shoulders, which if confirmed, could culminate in TLT falling to below 100.