5:04 am PST. “The next crash will be concentrated in bonds this time,” said Martin Armstrong in today’s blog post. He means government bonds. As a result, I wanted to take a  closer look at TLT this morning. The TLT is wedging and looks  as though it may have completed an a-b-c-d-e bearish wave 4, after which it could head to new lows this week. I might short it.

Pre-market, TLT is down at 119.74 now. I think it’ll consolidate a little perhaps. It is below s1.