Indicator Update: TLT Trender and TLT Oscillator

After another down day, lets see where my indicators stand. The TLT Trender v2 is still giving a sell signal on the Daily S&P 500 chart. Here's the chart with some comments:
And here's the TLT Oscillator, which is still very bearish down in extreme negative territory. This indicator ranges from 60 to -60 with below 60 being bearish. I plot a 5 day average over the bars to smooth out the data. Here's the chart:Well, both indicators are still very bearish and there is some evidence that the selling will likely continue. Even Trader Mike today pointed out that his Trend Table that he keeps up with is the worst that its been in over a year in this post. What's the take away? Expect more selling and hold onto the shorts.

TLT