TLT had a busy week clearing the way for a strong push to D=115.32. It started with a fist-pump past the midpoint ‘hidden’ resistance at 107.10. The breach was sufficient to suggest the target is about 75% likely to be achieved. The picture of strength brightened still more when the pullback from Monday’s upthrust failed to set up a ‘mechanical’ buy at the green line. Having fewer bulls aboard, and therefore less profit-taking, will always steepen the trajectory of a rally. For now, use p2=111.21 as a minimum upside projection for the near term. _______ UPDATE (Mar 25): No change. _______ UPDATE (Mar 31): Still no change, although TLT would trip a ‘mechanical’ buy if it were to feint down to x=102.99.