Technical analyst Chris Kimble offers some thoughts on the recent rally in Treasuries with a focus on a pair of ETFs
: iShares Barclays 20+ Year Treasury (TLT) and the 7-10 Year Treasury (IEF).
Chris comments: Six weeks ago, TLT and IEF created the right shoulder of a bullish inverse head-and-shoulders pattern. Both have had a good six-week rally since the right shoulder was put into place.
Now both of these ETFs are facing some key resistance levels, as the majority of major stock indexes are on support dating back to the lows of March of 2009.
How bonds handle this resistance should say much about what stocks do in the near future.
Now both of these ETFs are facing some key resistance levels, as the majority of major stock indexes are on support dating back to the lows of March of 2009.
How bonds handle this resistance should say much about what stocks do in the near future.
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