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The Direxion 30-year Treasury Bull 3X ETF ($TMF), an index that tracks the performance of long-term government T-bonds, has been in a long-term uptrend since February of 2011, but has been in an intermediate-term correction off its highs since July of 2012. Now, it appears as though TMF is setting up to break out above resistance of its 3-month downtrend line and resume the long-term uptrend that has been in place for nearly 2 years. The weekly chart below shows the long-term uptrend in TMF, while the daily chart that follows shows the potential breakout above the intermediate-term downtrend line.

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