Corporate bonds ETF, LQD, continues marching higher - for now

Buyers still like corporate bonds. Who can blame then when public issuers are giving more concerns? Today, Moody's revised downward the rating/outlook for the Commonwealth (state) of Pennsylvania from stable, to negative. Besides, the LQD exchange-traded fund has been holding support and marching up along an upretend channel. I've got one projection to $105/106, and another from $108 to $110. Because it's getting so close to these numbers, it's a good idea to keep a watch on. The indicators confirm the waning of momentum.