By Licia Leslie
October 11, 2024
Hi Shoppers,
The iShares 20+Year Treasury Bond ETF (Ticker: TLT) has been in a downward spiral ever since the Fed lowered interest rates.
They have traded right down to my support level:
Yesterday’s candle looks like it could turn out to be a hammer which signals a change in this downtrend.
I will wait for confirmation this morning of TLT trading above $94.23 (the 200 day moving average) for at least the first hour.
Then I will go shopping for cheap calls in the Oct21 expiration cycle:
I like the 94 calls for under a dollar.
The first level of resistance comes in at $96-$96.71, taking these calls over $2.00.
Use a close below $93.31 for your stop loss.
Trade Review
Arm Holdings (Ticker: ARM) traded $152 yesterday, just like I said it would. Watch for a double top here or a continuation of the rally to $160.
Thank You for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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