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Benzinga
Benzinga
Business
Mark Putrino

BZ Chart: Bond Market Bloodbath

ETF

Things may be about to get even worse in the bond market. As you can see on the following chart, the iShares 7-10 Year Treasury Bond ETF (NASDAQ:IEF), which tracks the price of U.S. Treasury bonds, appears to be breaking support around the important $101 level.

Support is a large group of investors who are trying to buy shares at, or close to, the same price. But if the price drops below support, it could illustrate a bearish dynamic. It shows that the buyers who created the support have either finished or canceled their orders.

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