Short T-Bond ETF Looking Higher

My near and medium-term work both indicate that the sharp correction from the 12/28 high at 50.65 to yesterday’s low at 49.15 in the ProShares UltraShort 20+ Year Treasury Bond ETF (NYSE: TBT) has the right look of a completed correction within the larger, dominant uptrend off of the 11/30 low at 44.26. If my work proves accurate, then the TBTs have started a new upleg today and should be heading for a test and hurdle of 50.65 on the way to 52.50-54.50 thereafter. Could such an upmove coincide with a reaction to Friday’s Employment Report for December? Definitely. Friday could be a defining moment for the long end of the bond market -- and the TBTs.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!