This leveraged ETF is starting show aggressive buying or selling of the long end of the yield curve. A real effort was made to reverse the neckline the past few trading weeks, but it has held.
That which cannot break support with force, will reverse and attempt to break resistance with force. A short-term swing high and overhead gap have already been attacked on very good midday volume. We'll have to wait and see how this closes, but strong tape indicates force behind the move. The tape could be providing a preview of the action yet to come when more significant resistance is tested in the not too distant future.
Long Bonds Double Inverse ETF (TBT)
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