In last weekends Commentary, we said “Treasuries should follow stocks higher.” We’ve now had 5 consecutive days of higher interest rates based on the TBT (Ultra Short Lehman 20+ Yr Treasuries). The TBT is running into Fibonacci Cluster Resistance in combo with our 89 line (long term trendline) based on our 55 minute chart (see chart below). We expect a pullback from these levels, and then a move higher to near 22.15 where we expect to go short, using 22.61 stop. Traders already long can sell Nov/Dec covered 22 calls.
You can learn our Fibonacci Impulse Strategies trading method at no cost.
Our training videos take about 4 hours to complete. If interested send
e-mail to pbsp@feargreed.com Att: Paul Mitchel
e-mail to pbsp@feargreed.com Att: Paul Mitchel
