TLT (Barclay's 20Y+ Bond Fund) - Since my last update on September 27 You can see the post here: http://theelliottwavesufer.blogspot.dk/2012/09/elliott-wave-analysis-of-eurusd-eurjpy_27.html)
The failure to break above the resistance-line from the 132.21 top indicates that we have seen a 1-2 / 1-2 count from the top and a deeper decline towards strong support at 109.76, which will be the first target for red wave iii.
Short term I would like to see a break below minor support at 120.67 as that will add confidence in the bearish count.
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