Saturday, June 18, 2016

Long term Treasuries (TLT): Cup and handle? checked. Negative yields?.........

Finally long term treasuries (TLT) did what we have highlighted since early March(Treasuries (TLT): Double top or cup with handle?) and again a month ago(Treasuries Cup and Handle revisited).
TLT has just completed a cup and handle formation.

What's the next step?A confirmation of the recent breakout towards 132 and then up.Current TLT formation points towards higher bond prices (therefore negative lower yields) and has significant bearish implications for stock markets.