U.S. Treasury Bond TLT ETF Continues to Climb

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June 23, 2009 2:48pm ETF BASIC NEWS

The iShares Barclays 20+ Year Treasury Bond ETF (NYSE: TLT) continue to act well, suggesting equity traders might be getting increasingly afraid of something… and need to buy some safety.  Although existing home sales are showing some sign of life now, Mr. (Bond) Market does not seem to care.  The TLTs continue to climb off of last Friday’s pullback low at 90.11 and appear headed for a confrontation with the Dec ’08-present resistance line, now at 94.20.  A close above 94.20 will be a very bullish technical event near-term and will project the TLT to 96.60 next.

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