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Wednesday, June 15, 2022
Barclays 20+ year treasury bond index looks to be completing a five-wave pattern to the downside
The TLT etf which tracks the Barclays 20+ year treasury bond index looks to be completing a five-wave expanding diagonal pattern to the downside on the monthly charts as shown by the blue labeling. It has a current dividend yield of 1.90%.
The 5th wave has had a run down close to the lower trendline but has not reached it. 5th waves in an expanding diagonal usually end before hitting that trendline so the 5th wave may be complete or very close to complete.
With that completed 5th wave count, if it is making a zigzag, wave b has an average retracement of wave a of 58% which is at 149.8. The range of that average retracement is within 20% which equates to 136-164. The 58% retracement level is shown on the chart below at letter b on the yellow labeling. The green trendline looks like a good place to put a price target and that trendline reaches the 58% retracement level around January of 2028. It hits the 136 level around January/2025 and the 164 level around January/2031. That makes for a six year time span, 2025-2031 to watch for that trendline to be reached by wave b.
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Quarterly chart of iShares 20+ year treasury bond etf(TLT). Click to enlarge. |
Friday, May 27, 2022
Eli Lilly Cycle Wave 3
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Eli Lilly monthly chart. Primary count is orange labeling. Cycle count is blue labeling. Click to enlarge. |
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