Bond break
We don't often see the bond market break like it did this afternoon. In stocks, this kind of behavior is usually a sign of a short-term extreme. For the most popular Treasury bond fund, TLT, the selling pressure has been enough that its 14-day Relative Strength Index (RSI) fell below 19 for only the 3rd time in its history. Sentiment on notes/bonds is relatively mixed, nearing pessimistic conditions but not overwhelmingly so, but this technical measure at least is signaling that sellers have pressed very, very hard.

