Interest rates, as measured by the US 10 Year Yield, continue higher in all time frames. Here is the daily: That doesn't look too impulsive on the Daily scale, but drop down to the 120 minute scale and it paints a different pricture: Net result is that our TLT trade from yesterday is now on the verge of kicking in: With 56 days left to expiration, any of these strikes should work for this trade. Most bearish of all stock indices.