Last fall the bond market (TLT) consolidated for several months as it tested its 200 day moving average just prior to the big upmove. We are now seeing a similar pattern take place as the bond market has been consolidating for the past 3 months.
Usually after such a consolidation a market will breakout and begin a trend. The direction of the breakout is not known until the market actually tells us so by posting several closes outside of the trading range. TLT is currently testing its 200 day moving average which is a very important area to watch in determining which way TLT will go. Let's keep a close eye on this market.
Latin America's Morning Espresso: June 28
2 minutes ago