The US Treasury market topped with our upside Exhaustion Alerts in January and then found initial support around the weekly moving averages (30-week average on the long bond and 40- week on the TLT). The bounce was anticipated to provide a selling opportunity in the TLT in the range of 133 to 135. The rally petered out at 132.64 and is now breaking down. The major support will now be at the 100-month moving average around 108 on the TLT. This equates to a 2.7% yield on the 10's and 3.6% on the 30s.
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April 22, 2015 Technical observations of Ross Clark