Treasuries Should Resolve to Upside

Jan 08

by Mike Paulenoff, Tue January 8th, 2008

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Treasuries Should Resolve to Upside
By Mike Paulenoff, www.MPTrader.com

With the equity market attempting to rally, or at least fighting off negative territory this morning, the Lehman 20 Year T-Bond ETF (AMEX: TLT) is experiencing a bout of profit-taking. However, the pattern and the underlying momentum gauges argue that the weakness in the TLTs is corrective, which when complete should resolve to the upside in another powerful upleg that propels prices towards a test of the prior high at 96.36.

Mike Paulenoff is author of www.MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!

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