I've employed a historical resistances approach to identify the most critical monthly levels that tend to hold significance when considering new positions. Currently, the green level has not yet been surpassed, although I strongly believe it's likely to occur, possibly either now or following a move towards the pattern resistance, which should align with a new all-time high (ATH).
This potential development should result in declining Treasury Bills (TBills), a risk-on sentiment for TLT, and a peaking DXY (US Dollar Index), presenting an opportunity for a short position with a target in the high 3000s. The timing of this move, whether it unfolds now (then the target should be 4100's) or a bit later, will depend on how the monthly close plays out. I'll be closely monitoring this to determine the more probable scenario.
Currently am short but watching with caution given the signal if we need to switch long.
This potential development should result in declining Treasury Bills (TBills), a risk-on sentiment for TLT, and a peaking DXY (US Dollar Index), presenting an opportunity for a short position with a target in the high 3000s. The timing of this move, whether it unfolds now (then the target should be 4100's) or a bit later, will depend on how the monthly close plays out. I'll be closely monitoring this to determine the more probable scenario.
Currently am short but watching with caution given the signal if we need to switch long.