Those that view the message of the market on daily basis are likely confused by trading noise. While trading noise contributes to the long-term trends, it does not define them. Human behavior tries to explain trading noise as a meaningful trend. This confuses the majority which, in turn, contributes to their role as bagholders of trend transitions.
The U.S. Treasury Bond rally remains safe - I hold my nose while saying that due to the world's evolving debt crisis because the ProIndex (professional participation) has supported the rally. Notice how the ProIndex confirmed/lead the advance that stunned the bears and world. Expect the rally to continue as long as the ProIndex confirms. The rally is so strong that it will likely take a multi-month to year divergence of price and ProIndex to reverse it.
TLT ProIndex
