The dowtrend in bonds is incomplete and in my view it is just starting. In order to retrace the ending wedge TLT needs to fall below 100 quite fast. The decline has resumed yesterday and should unfold within the next few months. Bonds is a multi-trillion dollar market - if a sell-off happens the only asset that can accommodate that amount of released cash liquidity is the dollar.
So, expect a temporary bubble in the dollar, a crash in Crude prices, and a crash in equities which will be driven by the increased yields in bonds.