I am spending a few days in the rockies enjoying old and new friends. Love the breath- taking views! Thank you RW for such a beautiful place to stay!!!
This area provides you the chance to travel on one of the highest paved roads in America, “Trail Ridge Road.” As we all know, markets can reach high elevations from time to time and the chart below presents the case that TLT could very well have achieved a “peak elevation in prices” this past week….
Not only did TLT hit an important Fib retracement level at (1) in the above chart, a crossroads of resistance recently came into play in the chart below. This chart was originally posted as the weekly quiz on dshort.com, 8/18/2010. It suggested to harvest against resistance.
For those that would like to score on defense, pick up the inverse bond ETF (TBF), with a stop 2% above the 61% retracment level and let the “Power of the Pattern” be your investment friend!