Pullbacks seem to last no more than two days, so perhaps that was it? Even so, the last rally, a two-week spree, was so steep that I’d be surprised if TLT is about to embark on a follow-through so quickly. A buy signal would be tripped in any event at 126.00 for a move to at least 127.80, the midpoint resistance of pattern easily discernible on the daily chart, where A=120.13 on 12/03. A still larger pattern begun from September’s lows projects to 133.16, so there are at least two good reasons to remain aggressively bullish when trading this vehicle. I’ll provide real-time guidance in the chat room for anyone interested, since climbing aboard using night-in-advance information would be difficult at best. _______ UPDATE (12:10 p.m. EST): We’re looking at buying Jan 127.50 calls — tightly stopped — with TLT trading at or very near 124.76, a promising midpoint Hidden Pivot support.
