iSHARES Barclays 20+ Yr Treasuries (NYSE: TLT) Tests Support
Says Market Timer Frank Kollar
August 5, 2010 (FinancialWire) (By Frank Kollar)
Shares of the ETF iSHARES Barclays 20+ Yr Treas (NYSE:
TLT) have been trading between support at about $98 a share
and resistance at about $102 a share for over a month after
a two month rally from $87.47 ended.
On Wednesday, August 4, TLT declined to $98.56, just a
fraction above support. This support level, which has held
since June 22, is an important one. If TLT closes below
it we could see declines that push prices quickly down
to the $96 level.
A bearish indicator for TLT has been the two attempts
to break out above $102 in July. Each reached lower intra-day
highs and a third rally attempt on July 30 failed at $100.61.
Since then TLT has been declining and now stands just
above critical support.
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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