The ferocious but badly mistaken rally in the days after the election petered out as expected, giving way to a relapse that will soon test crucial support at p=88.01. That is my minimum downside target for the near term, but it is also where the brutal slide from mid-September’s 101.64 peak could end. That would imply nothing less than the resumption of the bull cycle begun 13 months ago. I have adjusted p, as well p2 and D, downward to correct an erroneous coordinate used in my calculation of Hidden Pivot levels on the weekly chart. Respectively, they lie at 81.20 and 74.38.
TLT – Lehman Bond ETF (Last:90.08)
