Higher Highs Ahead for Ishares Lehman 20yr (NYSE: TLT) Says Market Timer Frank Kollar
August 26, 2009 (FinancialWire) (By Frank Kollar)
Shares of the ETF Ishares Lehman 20 Year (NYSE: TLT) have been in a sideways pattern with no tradable trend since early June.
For all this time, TLT has been trading between a declining trend resistance line and a rising trend support line.
However TLT appears to be breaking out of this pennant pattern, and to the upside.
In the short term, TLT can quickly reach $99.08. Longer term, the $105 level will be very strong resistance if reached
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy holds a position in TLT.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.
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