Looks like PMO is forming an interesting head and shoulder chart pattern and that has not always been as positive sign. Of course, I have noticed that other municipal bond funds have similar patterns it is a sign that does not bode well for the future.
Agree. All of these muni bond funds have broken seriously below the 50-day and 200-day moving average and have further to fall. Dead cat bounces will occur, but the decline should resume. When these issues bottom, some super tax-exempt rates will be available for those with funds to buy. Good luck if you're holding, but consider averaging down some time in the future.