Bonds - Potential Trade Setting Up
Above is a daily chart of the bonds (TLT) and as you can see this market has been going sideways for several months establishing what is known as an inverted head and shoulders bottom. We are currently trading at the neckline (resistance) which comes in around the 95.00 level. A close above this level might set the stage for a rally. One other thing to keep in mind is that the bonds tend to rally around this time of year so you may want to keep this market on your watchlist for a potential buy.
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3 comments:
Hi Kevin, Can you comment on TLT's longer term head and shoulder pattern dating back to May 2009? It is interesting on the H&S you identified, if fulfilled, it would complete the high point on the right shoulder for the longer term H&S
Hi Kevin,
Your mail address seems to be incorrect. Is there a way to contact you by mail?
Does your comment on TLT bonds also apply to high interest (junk) bonds?
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