Here is an interesting chart below showing TLT which is iSHARES 20 year plus Treasury Bonds exchange-traded fund.
The red arrows and comments represent major lows in SPY or QQQ's. The green arrows and comments represent major highs in SPY or QQQ's.
Taking that a bit further, we have a rising trendline with a possible breakout of the horizontal line acting as resistance.
Last and not least is the daily macd indicator at the bottom. Notice the potential consolidation and breakout.
Sometime these can fail, but it is worth watching and may add a piece of the market puzzle.