US Long Bonds

US bonds were often referred to as certificates of confiscation in the 70’s. The endless bailouts and devaluation from the US to Europe is certain revive this nickname at some point. The study of nominal price and time continue to illustrate strength. While the Euro bailout has released some energy of the trend, it has yet to change it. The 5/3 underside gap is pulling hard. The force of the test will support either continuation or trend reversal. This is nothing more than short-term, nominal (US dollar) analysis. The "real" or gold-adjusted trend remains down.

US Long Bonds ETF (TLT):