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Buying On Bad News
Please click here for an enlarged chart ofiShares 20+ Year Treasury Bond ETF(NASDAQ:TLT).
Note the following:
- The chart shows that bonds have rapidly moved up after consolidating in the mini support zone.
- The chart shows that bonds are now in the resistance zone.
- Higher bonds mean lower yields. For the time being, investors are buying stocks on lower yields. Yields have rapidly dropped on softer economic data.
- JOLTS report came at 8.059M vs. 8.34M consensus.
- Factory orders came at 0.7% vs. 0.6% consensus.
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