Below is the answer to last weeks quiz, suggesting to pick up bonds (due to long-term yield resistance) and the TIP ETF due to channel support. (see post here) At the time of the post, the TIP ETF was on channel support and had created a bullish falling wedge.
CLICK ON CHART TO ENLARGE
Below is an update to the ETF (TIP).
CLICK ON CHART TO ENLARGE
The “bullish ascending triangle” (65% chance of moving higher) that now looks to be forming in the TIP ETF suggests futher upside action is about to take place on an upside breakout. Keep a 3% stop on the TIP position.
