The moment of truth for the iShares Barclays 20+ Year Treasury Bond ETF (NYSE: TLT). If current strength continues to propel prices into and ABOVE a key near-term resistance plateau between 94.15 and 94.85, then prices should explode even more rapidly towards 97 thereafter (and I will be forced to chase the long side). Conversely, if the TLTs peak in the 94.15/50 next target zone (as is currently suspect), then I will be expecting a severe bout of profit-taking that reverses prices towards 92.00 once again, where I will reevaluate the overall pattern that has emerged during the past 3 weeks.
For now, I will watch from the sidelines.
The Mid-Day Minute
Moment of Truth for Treasuries
Mon, Aug 17 2009, 05:53 GMT
by
Mike Paulenoff
- MPTrader.com
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