I posted the 6 month chart to show the IEFs are still consolidating in a triangle consolidation pattern. On the upside we have the Fed buying Treasury bonds which puts a de facto floor under prices. On the negative side we have (or perhaps had) a stock market rally that provided some downside pressure.
The three months chart shows that prices and SMAs are still in a tight range with no direction in either direction. The same factors that we had in the 6 month chart we have in the 3 month chart. The main issue is the Fed's buying Treasury bonds. So long as that program is in effect we have a floor under prices.
