$TLT – Lehman Bond ETF (Last:85.79)

I went out on a limb recently with a prediction that T-Bonds had made an important low.  Last week’s price action in this ETF was hardly reassuring, however. Not only did it breach a midpoint Hidden Pivot support I’d noted at 85.99, it also generated a bearish impulse leg on the daily chart. Let’s give it the slight benefit of the doubt for now, since there are two remaining HP supports to be breached before we throw in the towel. They lie, respectively, at 84.76 (p2) and 83.53 (d).

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