Last week I shared that TLT looked to be creating “Twin Peaks” in price, suggesting lower bond prices should be in the near future (see post here). Below is an update to TLT (20-year bond) and IEF (7-10 year bond).
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The above 2-pack reflects that on a short-term basis support is breaking, what about from a longer-term perspective?
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Harvest up against resistance looks to have been a good move last week and Govt paper is declining in price and rates are moving higher. For those that took positions last week to score on defense by picking up TBT… it has been a very good 6 days!
Chris,
It looks to me like there is still a lot of opportunity here still. Or is this just a short term event?