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Thursday, March 28, 2024

Government Bonds: Triple Resistance Against the Trend

Courtesy of Doug Short.

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.


Would you have guessed eight months ago that the S&P 500 would hit the 2,000 level and the Government bond ETF TLT would be up twice as much as the broad market on the year? I can’t help but believe this has surprised a few investors. It has me.

Premium Members picked up TLT on Valentine’s Day and so far the trade has been rewarding, as TLT is up around 12%. At the time of the purchase in TLT, sentiment levels reflected just 20% of investors were bullish bonds.

The rally in TLT has pushed it up against a price point where triple resistance could be coming into play, as momentum is reaching lofty levels and sentiment has shifted a little as 66% of investors are now bullish bonds.

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