NASDAQ:TLT   Ishares 20+ Year Treasury Bond ETF
Looks like we're topping out here at the peak of a massive ascending wedge . HIGHLY likely we form a beautiful high test on the quarterly chart but I'm not going to wait around for that to happen.

Martin Armstrong's Socrates signaling major trend change to downside within TLT             which confirms techs.

Trade Management:

  • First major area of support seems to be around 115-120. We'll likely breakout and retest that level, then head back up to test bottom of wedge before headin down to the 100~ area where we formed our major 2014 low.
  • Best guess is we bounce off of the 100~ area heading back up to the monthly 50/60 ema and 115-120ish level to form a right shoulder.
  • If/when we get that right shoulder we'll then break down to all time lows. If this occurs it is going to be due to massive instability within US Government. Probability of gov             default will rise DRAMATICALLY and could likely occur.
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