Treasury Bond ETFs Forge Intraday Reversals

Arthur Hill
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com

The 7-10 year T-Bond ETF (IEF) opened weak and closed strong on Tuesday to forge an outside reversal day or bullish engulfing pattern. This is potentially positive, but we have yet to see follow through with a break above first resistance at 105. Also notice that the Commodity Channel Index (CCI) remains below momentum resistance at zero. Watch these levels for a short-term breakout that would be bullish for Treasuries and possibly bearish for equities.

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Arthur Hill
About The Author:

Arthur is Chief Technical Strategist at TrendInvestorPro.com. Focused primarily on US equities and ETFs, his systematic approach of identifying trend, finding signals within and setting key price levels has made him an industry-leading technician. Learn More 

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