Whilst equities ended the week moderately lower, there was more notable action in the US bond market. The ETF of TLT settled higher by a significant 1.3% @ $124.32. The near/mid term trend is unquestionably now bullish into late Sept/early Oct.
*I realise many have little concern about the bond market, but there are some truly grand implications.. as those who follow Armstrong will be well aware of.
Little to add.
TLT looks set for the $130s.. the only issue is whether we see a marginally lower high <135.. a double top, or a divergent higher high >135.
My guess would be a double top, but regardless, I will look to be short TLT from early Oct' onward.
Goodnight from London
*the weekend update will be on the US monthly indexes