Buyers closed this T-Bond proxy above the midpoint resistance for two consecutive days last week. That is usually a reliable sign that the rally will continue at least to the next level, in this case p2=111.76, so we shouldn’t be too concerned with Friday’s relapse. If the weakness continues down to x=103.54, especially within two days, that would trigger a ‘mechanical’ buy, stop 99.42, with excellent odds.
TLT – Lehman Bond ETF (Last:106.20)