As discussed in the Weekly Technical Review in recent weeks, TLT was approaching the end of a 5 Wave decline from its peak in March 2020 at 179.70. There is a chance that TLT could drop below 80.00 in response to the third quarter GDP report showing the economy growing at 3.5% or more when the report is released on October 26. However, the amount of potential weakness must be compared to the potential upside gain if the price pattern analysis is correct. Once the 5 wave decline is complete TLT will retrace a portion of the drop from 179.70 to the low on October 23 of 82....
