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June 18, 2009 / Jeb

Trading Index ETF’s : TLT (Long Term Treasury) and GLD (Gold Index ETF)

GLD

The GLD is consolidating above the 50 day moving average.  Notice that the big volume has not come in yet.  If this institutional  volume does come in and GLD breaks through that channel to the upside the  next stop could be $1200.

GLD

The long term treasury ETF (TLT) appeared to have a capitulation day on June 10th.  The treasuries were extremely oversold and the RSI was increasing which showed a non confirmation of price.   TLT rallied up to the 20 day and broke through and reverseto the downsided .  Now it seems as if it will test its lows.

If the treasuries break into new lows then this should be good for gold as a safe haven asset against inflation in the future.

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