LQD weekly chart shows the top identified by the negative divergence blue lines. Price received its initial spank down and is trying to maintain that lower trend line. This price point is also the 20 MA. Note the red lines all showing weaker indicators and price has not even made a low in that same time frame--very bearish. Projection is for price to fail the trend line and the 20 MA and move lower. Initial targets are 110.5, 110.0 and 109.6. The 50 MA is lining out more sideways now which will create support at 108 which gels with the horizontal support at 108. Watch the 50% levels for RSI, stochastics and money flow, should any of them fail, that will lead to the bearish trouble ahead. This information is for educational and entertainment purposes only. Do not trade based on this information. Consult your financial advisor before making any investment decision.
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