T Bond Short Bottoming Again?

I used the last bounce to unload one position in TBT at a very good profit, while my existing position – part of my home made curve steepener with short-term T bond fund SHY – resumed bleeding red. So with a wimpy preamble that it’s here to provide half of a strategic relationship and not make a profit… I’d still like to make a profit!

To that end the 60 minute chart says “today could be a start”. We have a channel and EMA 20 break (two things that had not happened since the top in mid-September) and it came from a support hold. Ah sounds good, but it’s a day trader time frame and here comes resistance directly overhead. Take that out and yields could be in business for a while.

tbt

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