Short Thesis - TLT Breakout

TLT as been in a downtrend since 2022, but just broke out above the trendline resistance. It has been forming another descending channel right above the old one and it broke above that one too. Today is closed right on the line for a retest.

This is a multi-year trend, so if it breaks I would expect a large move. TLT being strong is bad for stocks.