Lately, everyone has been wondering when interest rates will move higher. The talking heads in the media seem convinced that rates are moving much higher. They aren’t talking about one hike; they're talking about two. Maybe the Fed will, who knows.
The chart above looks at (ARCA:TLT), which hit support a little over a month ago on low momentum and bullish investors as bonds hit levels seen just a few times in the past 10 years.
At this point, TLT is attempting to breakout above falling resistance, as momentum is the third lowest in the past 5 years with just 38% of investors bullish bonds. Around a year ago, investors bullish bonds were near 70% and they were on the wrong side of the trade.
Full Disclosure….Premium and Sector Members are long TLT with stop just below resistance levels.