TLT short term bullish, long term mixed

11 במאי 2014

I show at least 3 scenarios here, that paints different pictures based on what the wave patterns allow. The move higher off 105.52 must be either a C or a 1, since it's a diagonal pattern. In general, I think one must be prepared for the simple ABC scenario longer term, and hence new lows, and look at the other scenarios only after some evidence that some kind of extension higher has begun.
In the near term, since C is likely to have parity with A, a move to 114 area is likely.