Setting Up the Sell Side on TLT

What tells us what the trend is in iShares Barclays 20+ Year Treasury Bond (TLT)? Well, its price is trading below both the 200-day and 50-day simple moving averages, which is a vote for the bears. Also, the five-bar exponential moving average (EMA) is still clearly below the 13-bar EMA. This is a combo I like to use on my daily charts because it clues me in to the shorter-term trend.

Besides price in relation to the moving averages, there is the pattern of the market to consider. The pattern of lower lows and lower highs that developed after the May highs supports a bearish stance at this time. At this point, this bearish pattern remains intact as long as the price remains below the $110.80 swing high made on July 2....267 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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