I'll admit Treasury ETF TLT is bearishly aligned while it is well below the MA(144) and the EMA(8) has only just crossed over the EMA(13), there's something about this that looks like it's a decent near-term buy. February is typically a poor month for equities and often after an election it is almost always a down month so why wouldn't people be defensive anyway? The Fed is talking about an interest rate increase in March and the dollar continues to rise, too. The last call I made for a bottom in TLT just before the new year was a good one and we saw a breakout from its four month declining channel. My Point and figure chart agrees and says a bullish target of $125.58 which I'd have to agree with when looking at my tentative channel drawing.