Best Financial Markets Analysis Article My near and intermediate term work indicates strongly that the upside pivot low at 44.01 last Friday (3/06) in the ProShares Ultrashort 20+ Year T-Bond ETF (NYSE: TBT) completed the corrective period off of the 2/09 recovery rally high at 49.86. If that proves to be the case, then all of the action this week- the climb to 48.20 on Wed., followed by the pullback yest. and today- represent the start of a new upleg that should propel the TBT to new recovery highs.

Let's notice that the 50 DMA is accented sharply higher now, and the 20 DMA is flat, creating a positive momentum condition within a very constructive pattern that has been developing off of the December low. After a bit more backing and filling, the TBT should begin a new upleg. Only a plunge that breaks 44.00 will wreck my current technical outlook. MJP 3/13/09 11:15 AM ET (46.45)

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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