Wednesday, August 10, 2016

Correction Posted: U.S. Treasuries ETF TLT

Looking back at my work from a few days ago I wasn't satisfied with how I left things on the U.S. Treasuries ETF TLT. I was sloppy and the I think biased by the news on Friday but I would now like to post a correction to that chart by now saying TLT is a condensing triangle. Condensing triangles can break either way but looking at MACD the divergence that's building is hinting that Treasuries may break upwards. Regardless, I have closed my short position until a clearer picture emerges.