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ISHARES Barclays 20+ Yr Treas (NYSE: TLT) Headed Lower

February 22, 2012

Shares of ISHARES Barclays 20+ Yr Treas (NYSE: TLT) have been slowly losing ground since they reached a rally high back on October 4, 2011. On Tuesday, February 21 they made a new closing low.

For the last five months, TLT has been trading in a sideways pattern, but with lower highs in its rallies and lower lows in its declines. A slightly declining trend.

We have been bearish on this sector for some time based on the chart and now with money coming out of fixed income markets and going into equities, we are looking for potentially substantial declines in coming weeks.

Tuesday's close was at the lowest level since back on October 31, 2011, near the bottom of a steep correction.

There is still support at $115 a share, but if this level is broken, we could see declines quickly reaching $110 a share.

The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy does not currently hold a position in TLT.

 

Posted on February 21, 2012 in Stock, ETF and Market Analysis |

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