- Technical Market Commentary -

August 5, 2010 (FinancialWire) (By Frank Kollar) (Go to http://www.financialwire.net/?s=cmmtry for all recent commentaries.) – Shares of the iShares Barclays Capital U.S. 20+ Year Treasury Bond Index ETF (NYSE: TLT) have been trading between support at about $98 a share and resistance at about $102 a share for over a month after a two month rally from $87.47 ended.

On Wednesday, August 4, TLT declined to $98.56, just a fraction above support. This support level, which has held since June 22, is an important one. If TLT closes below it we could see declines that push prices quickly down to the $96 level.

A bearish indicator for TLT has been the two attempts to break out above $102 in July. Each reached lower intra-day highs and a third rally attempt on July 30 failed at $100.61.

Since then TLT has been declining and now stands just above critical support.

(Go to http://www.financialwire.net/2010/04/22/about-kollar/ for more about Mr. Kollar, and go to http://www.financialwire.net/?s=kllrfby+cmmtry for more of Kollar’s commentaries.)

Today’s FirstAlert is underwritten by ShareIntel(r) Shareholder Intelligence Services** (see below).

Last session’s most actives showed 15 advancers versus 10 decliners. Volume leaders were led by the SPDRS S&P 500 Trust ETF (AMEX: SPY) (streaming research for SPY available at http://investrend.stocksmart.com/ri/toc?tid=34430), Citigroup, Inc. (NYSE: C) (streaming research for Citigroup available at http://investrend.stocksmart.com/ri/toc?tid=7921), Microsoft Corp. (NASDAQ: MSFT) (streaming research for MSFT available at http://investrend.stocksmart.com/ri/toc?tid=4652), Intel Corp. (NASDAQ: INTC) (streaming research for INTC available at http://investrend.stocksmart.com/ri/toc?tid=3619), Bank of America Corp. (NYSE: BAC) (streaming research for BAC available at http://investrend.stocksmart.com/ri/toc?tid=8456), Adaptec, Inc. (NASDAQ: ADPT) (streaming research for ADPT available at http://investrend.stocksmart.com/ri/toc?tid=119), Pfizer, Inc. (NYSE: PFE) (streaming research for PFE available at http://investrend.stocksmart.com/ri/toc?tid=8675), Cisco Systems, Inc. (NASDAQ: CSCO) (streaming research for CSCO available at http://investrend.stocksmart.com/ri/toc?tid=1723), the PowerShares QQQ Trust ETF (NASDAQ: QQQQ) (streaming research for QQQQ available at http://investrend.stocksmart.com/ri/toc?tid=1044870) and the Financial Select Sector SPDRS ETF (AMEX: XLF) (streaming research for XLF available at http://investrend.stocksmart.com/ri/toc?tid=1026233).

The FirstAlert(tm) Economics Calendar lists Chain Store Sales for July, Initial Jobless Claims (8:30 a.m.).

The FirstAlert(tm) Events Calendar showcases CELG, ZMH, MRK, WLP at BMO Capital Markets Focus on Healthcare Conference.

The FirstAlert(tm) Earnings Calendar highlights Cleco Corp. CNL, Q2 2010 Earnings Release; Consolidated Graphics CGX, Q1 2011 Earnings Release; ImmunoGen, Inc. IMGN, Q4 2010 Earnings Release; Infinity Pharmaceuticals, Inc. INFI, Q2 2010 Earnings Release.

FirstAlert(tm) Website of the Day: http://www.freeshipping.com/

Quote of the Day: "If you disregard the very simplest cases, there is in all of mathematics not a single infinite series whose sum has been rigorously determined. In other words, the most important parts of mathematics stand without a foundation." Niels H. Abel

Word of the Day: tarry \ TAR-ee \ , verb; To remain or stay, as in a place; sojourn.

In context: "It would be well," he added, "to let this man go in again, as usual, and for him to tarry in the lodges, giving notice to the gentle ones of our approach, until we call him out, by signal, to consult. You know the cry of a crow, friend, from the whistle of the whippoorwill?"– James Fenimore Cooper, The last of the Mohicans: a narrative of 1757.

Today is: International Beer Day.

Happy Birthday: Niels H. Abel (1802, d. April 6, 1829)

Today in History: William Wallace, who led Scottish resistance to England, was captured in 1305 by the English near Glasgow and transported to London for trial and execution.

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Disclosure: The Fibtimer.com (http://www.fibtimer.com/) ETF Timing Strategy holds a position in TLT.

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