The moment of truth for the iShares Barclays 20+ Year Treasury Bond ETF (NYSE: TLT). If current strength continues to propel prices into and ABOVE a key near-term resistance plateau between 94.15 and 94.85, then prices should explode even more rapidly towards 97 thereafter (and I will be forced to chase the long side).

Conversely, if the TLTs peak in the 94.15/50 next target zone (as is currently suspect), then I will be expecting a severe bout of profit-taking that reverses prices towards 92.00 once again, where I will reevaluate the overall pattern that has emerged during the past 3 weeks. For now, I will watch from the sidelines.

By Mike Paulenoff

Mike Paulenoff is author of the MPTrader.com (www.mptrader.com) , a real-time diary of Mike Paulenoff's trading ideas and technical chart analysis of

Exchange Traded Funds (ETFs) that track equity indices, metals, energy commodities, currencies, Treasuries, and other markets. It is for traders with a 3-30 day time horizon, who use the service for guidance on both specific trades as well as general market direction

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