TLT’s leap last week, which left two bullish gaps on the daily chart, was less encouraging than it seemed. For an uptrend to remain healthy, it must continually renew itself by surpassing a prior peak with each new upthrust. Although the latest thrust did exceed a cluster of small highs recorded in mid-September, it failed to go the extra inch needed to get past August 31’s summit at 97.05.  An energetic upward reversal early in the week could rectify this shortcoming, but if TLT simply drifts sideways-to-lower, it would diminish the putative strength of the ascent begun from 82.42 on October 23.  I am being finicky to avoid overlooking the possibility that interest rates have merely been correcting, and that Powell plans to let market forces take them above 5%. ______ UPDATE (Dec 13, 10:51 p.m.): DaBoyz on the night shift have succeeded in wafting TLT as high as 97.14, surpassing the Aug 31 high. The move is therefore impulsive and will refresh the bullish energy of the daily chart.