Wednesday, August 12, 2015


Long-term US treasuries (TLT) have probably entered a new bull phase after a correction from 138.5 (early 2015 high) to around 115.5(A-B-C correction).

We believe that TLT will probably stall at 125-126 and correct towards 120 where it will bounce and resume its upmove towards 131.5 and then 140.
It is very important for TLT to break above 131.5 to establish a longer-term bull move.

We feel that the above chart could possibly mark a new round of QE...