Don't Ignore This Chart!

ETF Rankings Point To Emerging Market Corporate Bonds Break Out

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On days with the potential for major trend changes, I like to look around to see what might be moving that I did not expect. Today, I came across this ETF. It is the Bank of America - Emerging Market Corporate Bond ETF.  This is a 52 Week High Break out.

EMCD 20140303

 


Now the volume is tiny. But what caught my eye was the size of the move on both Friday and Monday. These bond traders can be some of the smartest. I would not have been thinking about emerging market corporate bonds this morning without this clue from the ETF SCTR Top Up Today.

Screen Shot 2014-03-03 at 8.50.32 AM

The other information which was not as surprising was all the commodities shooting higher. This list changes in real time, so looking through out the day for ideas can be very helpful. As well, it looks like the 30 Year bond yield is completing a Head/shoulders topping pattern. That is important to watch for a broader market signal.

Good trading,

Greg Schnell, CMT.

 

Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA). Learn More
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