10:38 am PST.

After I had written that I thought money would start moving back into bonds as the markets top out, a really really big print came in on GOVT, the core U.S. treasuries etf.

6,922,063 shares traded at 24.93 on GOVT. I personally think that it may have been buying. However, I am going to give it some time to watch how prices perform around it. It could have been selling too, depending. Bearish below, bullish above.