Now that some time has passed, I have redrawn my iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) trendlines. This time, I am using the channel tool, which by definition demands the prices be confined within perfectly parallel lines.
It looks quite clean, if I may say so. I particularly like the price allegiance to the midline.
Relatedly, please note how banks, via the Financial Select Sector SPDR® Fund (NYSE:XLF) have broken to lifetime highs.
Likewise, utilities, via Utilities Select Sector SPDR® Fund (NYSE:XLU) have done the same, although with less gusto than banks.