The chart above (click to enlarge), TLT daily, looks like a failed head and shoulder. Failing to pierce through the neckline at 87, it has been rebounding fairly strongly since 04/13 and closed the month at 88.75. I also like the rising 200-day Moving Average. All in all, a bullish case in the making. I'll be keeping an eye on good old TLT, my favourite bond ETF. I feel compelled to add a little fundamental background: the economy is apparently slowing much faster than expected (the latest reading on GDP growth came in at 1.3% annualized, I believe) and even though inflation is not exactly where the Fed would like it to be, Big Ben might just have to cut rates, which would fit in the bullish scenario for TLT.