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Friday, March 7, 2014

TLT 3/7

TLT is getting into an interesting location.  Here is the daily chart.

TLT is doing battle with its 200 SMA.  It formed a double top and has now pulled back to the 50 SMA and the area of the 2/12 low.  Will it make a double bottom and bounce again or break down?
This was a pretty aggressive retest of the low and lot of times those reverse.  It also started the year strong which can help to propel an asset further.  At any rate TLT has an important decision to make in this area.


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