Bond breakout

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.


TLT, weekly

TLT, monthly2

Summary

*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.
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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

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*the weekend update will be on the US monthly indexes