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S&P500 And TLT Forming A Temporary Pull-back Within A Larger Trend

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Feb 04 2013

S&P500 is forming a pull-back after a Friday's rally which could be just another corrective move that may provide new long opportunity within a larger uptrend. We will be tracking a three wave retracement back to 1496 key support zone.

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This ongoing pull-back is also confirmed by TLT which is rising against previous five wave fall. Three wave bounce should stop at 117.90 or maybe at 118.60 resistance level. Fall from there will support the US stock market.

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*When stocks are up, yields are up, TLT is down and dollar is down and vice-versa!

*iShares Barclays 20+ Year Treasury Bond Fund (the Fund) seeks investment results that correspond generally to the price and yield performance of the Barclays Capital U.S. 20+ Year Treasury Bond Index (the Index). The Index measures the performance of public obligations of the United States Treasury that have a remaining maturity of 20 or more years.


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