Is the bullish run coming to an end? iShares iBoxx $ Investment Grade Corporate Bond ETF down to $107.64 (-0.23%)

During a 3 day uptrend, iShares iBoxx $ Investment Grade Corporate Bond ETF gained a total of $1.26, or 0.952%. Now turning against its recent performance, as the current session draws to a close, iShares iBoxx $ Investment Grade Corporate Bond ETF remains in the $107.3 – $107.78 range after dropping 0.23%.

New United States Initial Jobless Claims data fell short of the 250,000 projected by analysts with a reading of 262,000 while failing to improve upon the previous reading from last month (262,000).

On the flip side, data for United States Retail Sales released yesterday at 12:30 UTC is better than expected with 0.3%, but worse than previous figure of 0.4%.

While price action maintains a negative bias, United States Philadelphia Fed Manufacturing Index (Jun) came out at -13.7, while a consensus of analysts was expecting -13.5.

Following today's trading session, chart analysis suggests iShares iBoxx $ Investment Grade Corporate Bond ETF could begin to recover as it approaches significant support, now 58 cents away from $107.05. Dipping below could be an indication that further losses are ahead. Trend analysis indicates that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Analysis based on the asset volatility indicates that iShares iBoxx $ Investment Grade Corporate Bond ETF's upper Bollinger Band® is at $107.95 which indicates a further downward move may follow.

Overall, while iShares iBoxx $ Investment Grade Corporate Bond ETF has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

In the meantime, negative performances are also seen in other markets, after ending yesterday's session at $168.18, Toyota lost $3.66 and is trading around $164.53. Walt Disney is down $2 from the beginning of the session and now trades around $90.94.

IShares iBoxx $ Investment Grade Corporate Bond ETF hit a significant low of $99.2 around 7 months ago, but has since recovered 8.75%.