Get 40% Off
📈 Free Gift Friday: Instantly Copy Legendary Investors' PortfoliosCopy for Free

Municipal Bonds: Had A Great Run, Is The Run Over For 2015?

Published 03/06/2015, 07:55 AM
Updated 07/09/2023, 06:31 AM

Municipal Bonds have had a very good run since June 2013. But with the pullback and sideways action in 2015 is that run over? I shared some thoughts from a longer perspective here last month but it involved looking at longer term monthly price action. Where the longer term is good at giving a clearer picture, it can often miss the turning points. For this the intermediate chart can give more granularity.

MUB  Weekly Chart

The chart above of weekly price action of the Municipal Bond ETF (NYSE:MUB) does give more granularity. But it comes up with nearly the same conclusion. The chart shows a AB=CD pattern in the weekly price action. A rise followed by sideways and a fall only to start higher again. And this AB=CD pattern targets a move to 118.25. The monthly charts looked for 117 so pretty close. The recent action is a bit concerning and a move under 109.25 might derail this but until then the future for Muni’s looks bright.

Original post

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.