Since July, TLT has had a dramatic sell-off similar to gold. The price pattern of TLT and gold are very similar. For the month of November, TLT suffered the most severe wave iii/(iii) down. The bond market is already pricing in a Fed rate hike this month. TLT has a lot more downside to go to finish this major wave 1 down before seeing a more significant bounce. Rallies are to be sold.

My guess is that maybe TLT might sell off into the Fed meeting and then bounce afterwards. Sell the rumor, buy the news in a bear market?