http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p70142979615&a=266398464

Withal, a desultory week to top off the holidays.  You would not think it worth comment — except– nattering talking heads are calling this the end of the “Trump rally.”  This gives us the material for a teaching moment.  One, ignore  talking heads.  Two, one could hedge here but  hedging always loses money except in major downtrends, leading to the strategy of grinning and bearing it.  There is a way to evaluate whether the end of the wave has occurred:  have there been three days away  (cf. Technical Analysis of Stock Trends) from the low of the peak day.  In this case, only two.  We are grinning and bearing it here.

http://stockcharts.com/h-sc/ui?s=TLT&p=D&yr=0&mn=6&dy=0&id=p13385865258

http://stockcharts.com/h-sc/ui?s=TLT&p=D&yr=0&mn=6&dy=0&id=p13385865258