Government bonds (TLT) breaking steep rising support channel

tltbreakingbelowsupportapr28CLICK ON CHART TO ENLARGE

TLT had a great 2014 and early part of 2015. TLT hit the top of this steep rising channel a few months ago and stopped on a dime.

Now TLT is attempting a breakdown of this channel, where it rallied over 35% in a little over a year.

Could a rally in some commodities, (Gold/Silver/Miners) and the Euro have some bond players spooked/nervous?  Could be!!!

Full Disclosure…Members have been overweight the Energy and Metals sector for a while now.




Euro breakout helping this hard hit company?

bhpbreakoutatsupportapr28CLICK ON CHART TO ENLARGE

Billiton Limitied (BHP) has had a rough 5-years, as its down nearly 50% from its 2011 highs. It’s pattern and the Euro look a good deal alike!

BHP may have created a “W” bottom at falling channel support and it is attempting an upside breakout in the chart above.

euroattemptingbreakoutapr28CLICK ON CHART TO ENLARGE

Euro has had a rough couple of years as well. On a short-term basis the Euro is attempting to break above short-term falling resistance. Very few investors believe the Euro will rally. The lower left inset box highlights bullish sentiment (From Sentiment Trader) towards the Euro stands at just 20% bulls right now, which is a couple of percent above the lowest sentiment levels in a decade plus.

Should the Euro push higher, some hard hit commodities could catch a bid and push them higher.

Stay tuned, some out of favor assets could be fun to own!


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Apple weekly breakout in play, $150 remains upside target

appleweeklybreakoutapr27CLICK ON CHART TO ENLARGE

Apple closed last week at an all-time weekly closing high at (1) in the chart above. Apple recently broke above its 4-year rising channel, came back to test old resistance and pushed higher, setting this new record high.

In November of last year, when Apple was trading below $110 per share, the Power of the Pattern shared that Apple’s upside target stood at $150. (See post here) 

Below is a long-term update on Apple

appledualresistance150levelapr27CLICK ON CHART TO ENLARGE

Apple has remained inside of rising channel (1) for the past 30-years. I applied Fibonacci to the 2008 lows and 2012 highs and the first Fibonacci extension level comes into play at $150, which also happens to be the top of rising channel (1).

On a percentage basis, dual resistance that the Power of the Pattern feels should be respected, comes into play around 15% above current levels.


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