Treasuries Should Resolve to Upside

Treasuries Should Resolve to Upside
By Mike Paulenoff,

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.

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