TLT Could Bounce Here, Triple Support Test In Play Says Joe Friday
Click on picture to enlarge
Over the past 8-years, TLT has created some interesting highs and lows and volatile moves along channel lines (A) in the chart above.
TLT is testing triple support at (1) above.
This is a price point where TLT could bounce.
So many wonder what the Fed will do per interest rates going forward. Should support give way at (1), regardless of what the Fed does, a break of support should be concerning for bond bulls.
Joe Friday just says the facts….At this time a test of triple support is in play for TLT and it looks like a price point that its important for bonds that support holds!
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I believe in the conspiracy of artificial demand for the bond. It should just go up in a straight line, but then the big boys would not want to buy it since they want dips. But the trajectory is up and this is why: www.talkmarkets.com/.../are-bernanke-and-yellen-charlatans-dangling-the-carrot-of-prosperity