Yellin announced stocks are too high.  So there’ll be downward pressure on SPY until October-style correction (could be Sep also).

I believe the TLT bottom is in, BUT I want to buy Jun 18 (morning of CPI day) as it will fall on that day due to gas buddy surge this month (inflation will rise for May but that will be the peak).  Most likely TLT will be about the same price as now, BUT we’ll be able to see Gas Buddy falling on the downside to increase confidence.

In the near term TLT may rise $1-$3 before going sideways until cpi day. It will go sideways due to SPY rising a few dollars until Fed Mtg Jun 17.  After Jun Fed Mtg on Friday/Monday, SPY will turn and start a downward journey until October.