Reversal Ahead for ISHARES Barclays 20+ Yr Treas (NYSE: TLT) Market Timer Frank Kollar
September 28, 2012 (By Frank Kollar)
Shares of ISHARES Barclays 20+ Yr Treas (NYSE: TLT) have reached their declining trend resistance line which should result in a reversal.
On Wednesday, TLT reached the resistance line, created by drawing a line on a daily bar chart connecting the July 25th high and the August 31st high, then continuing to the right of the chart.
You can also draw a declining support line by connecting the August 16th low and the September 14th low then continuing to the right.
The two declining lines create a declining channel for TLT that should result in lower lows in coming weeks.
Chart Courtesy of StockCharts.com
A decisive close above TLT 125 would break the channel on the upside and likely continue higher. But barring that, TLT is in a declining channel and should now move lower.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy does not currently hold a position in TLT.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.