CotW: Long-Term Bonds Above MAC

long-term bonds EFT tlt above mac weekly 7-30-15Long-term bonds returned to the monthly MAC low in early May. Support has proven strong at these levels, with highs remaining within the lower bound of the monthly MAC.

Now, as seen above, TLT is showing significant movement on the weekly chart. Watch carefully over the coming days and weeks. With price currently above the MAC, the next two weeks may provide the signal necessary for an intermediate-term breakout buy.