Don't Ignore This Chart!

A Major Bullish Reversal Pattern Takes Shape in TLT

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The 20+ YR T-Bond ETF (TLT), which is one of the best performing ETFs this year, is challenging its October high after a 5+ percent advance this year. The double bottom lows are around 101 and resistance is set at 108. A breakout here would target further strength to the 115 area. The indicator window shows the StockCharts Technical Rank (SCTR) moving above 70 and hitting a 52-week high as TLT shows relative strength this year.  

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Arthur Hill
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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