# 20+ yr Treasury ETF (TLT) — Elliott Wave count, Nov 6, 2026

20+ yr Treasury ETF (TLT) Elliott Wave count at the Nov 6, 2026 close (price 81.92): the called count is five down from 2020, cycle V in progress. It is invalid above 86.43. On the daily chart, intermediate 4 of 3 up from $76.43, in progress as a double zigzag, targeting 83.33 (invalid below 76.43).

Source: https://elliottwaveatlas.com/markets/tlt · Data: https://elliottwaveatlas.com/data/markets/tlt.json

## Called count
Five down from 2020: cycle V in progress, primary 3 of V with intermediate 4 extending as a double zigzag (minor Y up in minute (c)). Invalid above 86.43.

Structure: I 179.70 (2020-03) -> 133.19 (2021-03); II -> 155.12 (2021-12); III -> 82.42 (2023-10); IV -> 101.64 (2024-09); V live: 1 -> 84.89, 2 (expanded flat) -> 92.19, 3 live.

What comes next: minute (c) carries Y to 83.04-83.88 (Y's own 83.16-84.59) under 86.43, completing intermediate 4 near; intermediate 5 then breaks 76.43 toward primary 3's 68.89.

## Levels by timeframe
| Timeframe | Degree | Wave | Target | Invalidation | Time window |
|---|---|---|---|---|---|
| Monthly | Cycle ↓ | cycle V down from $101.64, in progress (fifth wave of the five down from the 2020 high) (low so far $76.43, close $81.92) | 62.6–75.33 | 101.64 | — |
| Weekly | Primary ↓ | primary 3 of V down from $92.19, in progress (low so far $76.43) (primary 1 low $84.89) | 57.54–68.89 | 92.19 | — |
| Daily | Intermediate ↑ | intermediate 4 of 3 up from $76.43, in progress as a double zigzag | 83.33 | 76.43 | 2026-11-14 → 2027-10-01 |
| Hourly | Minor ↑ | minor Y of intermediate 4 up from $80.89, in progress as a zigzag (minute (a) a five to $82.21 at 13:00 on 2026-11-05 | 83.16–84.59 | 80.89 | 2026-11-07 → 2026-12-16 |
| 15-minute | Minute ↑ | minute (c) of minor Y up from $81.71, in progress (minute (a) $80.89 → $82.21 | 83.04–83.88 | 81.71 | 2026-11-06 → 2026-11-08 |


## Recent changes to the call
- 2026-10-16: new — five down from 2020, cycle V in progress

---
Elliott Wave Atlas — free to quote with attribution and a link. Educational and informational only. Not investment advice. Elliott Wave counts are probabilistic scenarios and can be wrong.