Treasury Turning Point: An Update
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Three weeks ago, the Power of the Pattern was reflecting in the first chart below that yields had created a bullish falling wedge (yields should rise), and being bullish on bonds was the popular trade. Bond sentiment stood at 80% bulls, in my "Turning Point for Treasuries" post (available here).
I have been showing that a great opportunity was at hand to short bonds with Sector/Commodity Sentiment members and Premium Members for weeks. One of our favorite trades was to short bonds due to the huge bullish falling wedge and with bond sentiment at 80% bulls.
If you would like a sample of my Sector/Commodity update, send an email to firstname.lastname@example.org and I will send you a Free Copy of our Sector Sentiment service.
Below is an update to the chart above, reflecting a breakout in yields and a breakdown in TLT!
Are rising yields/falling bond prices good for the economy right now? I don't know.
I do know this ... shorting bonds over the past few weeks, has been good for one's portfolio, as TBF has made more money than being long the S&P 500!
(c) Kimble Charting Solutions