TLT has rallied into our target area of 126 – 130, and failed. LQD looks better than TLT. It has already filled the November gap, and is also weakening. HYG and various junk bond ETFs have rallied and still look strong. TLT has a buy signal on the Monthly stochastic, but the trading action is a concern. This peak could be the last before another major correction that could carry TLT to 100.
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