T-Bills Eye 3X Resistance: Will Uptrend Continue?
Chris Kimble | Sep 02, 2014 11:02AM ET
Would you have guessed that 8 months ago the S&P 500 would hit 2,000 and that the Government bond ETF iShares Barclays 20+ Year Treasury (ARCA:TLT) would be up twice as much as the broad market on the year?
I can't help but believe this has surprised a few investors, myself included.
Premium Members picked up TLT on valentines day and so far the trade has been rewarding as TLT is up around 12%. At the time of the purchase, TLT sentiment levels showed that just 20% of investors were bullish bonds.
The rally in TLT has pushed it up against a price point where triple resistance could be coming into play as momentum is reaching lofty levels and sentiment has shifted a little with some 66% of investors now bullish bonds.
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