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Sunday, September 9, 2012

TLT and GLD


I bought SPXS at open on Friday. We did not get to 1440 until after hour. So I count 3 trading days, or Wednesday for some type of reaction with a stop above 1446. With german high court ruling on Wednesday, my charts on TLT and GLD confirm that a pull back is possible. If TLT and GLD, support and resistance, are tested then stops upto 1446 may be taken out by Monday or Tuesday.

TLT, 20+ Treasury bond, 4hr chart is showing support at  123.30 and 123.79


GLD is showing resistance at 170.13



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