The market may be in one of those consolidation ranges once again before it decides on whether to continue higher or not. However, there are still some trades we have on watch in the meantime.
Treasury yields look to be stabilizing and could even be ready to breakdown, especially if the market is fixing to make another move higher. For those in the Smart Trades community, this presents us with an opportunity we have been waiting quite some time for.
iShares 20+ Year Treasury Bond ETF (TLT)
If Treasury yields do breakdown, then we would expect the TLT to go with them, particularly when looking at the 20-year yield. This ETF has been flirting with a breakdown of the 100 level for a number of weeks now and we think now might be a good time to keep an eye on it in the off chance it gives way.
Also, be sure to use more than one confirmation on…
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