Mid-range bond ETF (IEF) and longer term bond ETF (TLT) find themselves on 3-4 year price support, yet at the same time, the National Muni Bond ETF (MUB) is testing key overhead resistance.
CLICK ON CHART TO ENLARGE
CLICK ON CHART TO ENLARGE
Bond strength of late can be found pretty much in just one bond category (see bond strength here). If long Muni bonds at (3) I would be very careful due to key channel resistance that is currently at hand.
Game Plan…Am long TLT due to support. So far support has held, yet the bounce off of support hasn’t been anything impressive! Favorite bond position remains the high yield mutual funds that continue to push higher (see post here)
Bond market — will we have a 3rd day in a row of treading water and getting no where? If TLT would just pop over 90.08, I’d feel like we’re accomplishing something…