LQD closed at $106 after losing 0.33% yesterday

A quick look at yesterday: iShares iBoxx $ Investment Grade Corporate Bond ETF slid down from $106.37 to $106, taking a 37 cents loss (0.33%)

United States Pending Home Sales released earlier showed a marked improvement to 0% from the preceding data of -5.2%, but fell short of the 0.5% figure forecast by a consensus of market analysts.

On the flip side, United States GDP beat the 1.1 projections, with 1.3. United States Initial Jobless Claims beat the 250,000 projections, with 229,000.

Technical analysis shows that iShares iBoxx $ Investment Grade Corporate Bond ETF could begin to recover as it approaches significant support, now 21 cents away from $105.81. Dipping below could be an indication that further losses are ahead. Trend and momentum analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Asset volatility analysis shows that iShares iBoxx $ Investment Grade Corporate Bond ETF's lower Bollinger Band® is at $105.54, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

Overall, the technical outlook suggests iShares iBoxx $ Investment Grade Corporate Bond ETF is likely to remain muted for the immediate future, with no clear-cut direction.

In the meantime, negative performances are also seen in other markets, AT&T is down to $15.15, losing 80 cents, after ending the previous session around $15.95.

Positive performances can be seen by looking at other markets as NVIDIA skyrockets 24.37% yesterday and closed at $305.38. TSM is trading around $100.95 after ending yesterday's session at $90.13 (up 12% today).

Looking ahead, ongoing depreciation may be prolonged as today at 12:30 UTC data for United States Core Durable Goods Orders will be released, with an expected decline to 0% from the preceding figure of 0.3%.

Furthermore, United States Core PCE Price Index (MoM) (Apr) is scheduled for today at 12:30 UTC.

After hitting an important low of $99.2 approximately 7 months ago, iShares iBoxx $ Investment Grade Corporate Bond ETF has bounced back 7.23% since.