TLT has broken out with a stab on Friday that not only penetrated a major midpoint Hidden Pivot resistance at 92.04, it also closed above it.
If the uptrend continues for another day or two, it will affirm the likelihood of more upward progress toward p2=95.62, the ‘secondary pivot’. I was skeptical about the strength of the trend earlier because discrete thrusts were not exceeding ‘external’ peaks on the daily chart. But the uptrend’s resilience has been affirmed by a corresponding move lower last week (see my TNX ‘tout’ below) in 10-year yields beneath a crucial support at 4.24%.
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