The "WTF Chart of the Day" belongs to the $DJIA weekly chart. Over the course of this 8-year long Bull Market, the Dow has not been this over-extended above the 50 week moving average since the recovery phase after the Great Recession. This is the second longest bull market in history to put that in perspective.

Each time the index has been this over-extended, there has been a significant retracement that follow (as indicated on the chart below.) This most likely won't happen over night, but it is likely to come over the next couple months. Rate hikes are coming starting next week, valuations are sky-high, and the debt ceiling will have to be dealt with this month. We recently wrote an article on a risk-aversion approach using TLT here.