TLT forecast update

Jan 26, 2012 UPDATE: The last trade didn't generate an "entry" signal, so I am simply updating the chart. What I have done is to shift the price forecast over to the end of CY 2011and the price action is mimicking the action somewhat closely. It certainly looks like the bond bulls are cornered and they are stuck in their bonds. What you will see is every attempt possible to rally bonds in short, sharp moves at times of low liquidity or on overnight gaps as that is when the least amount of buying can create the biggest price advances. Short every 2 pt rally until we see prices under 110.
Read the text on the chart in red for more info.
By: Technical Tim,
10:20AM Friday, Jan 26, 2012