JNK, HYG, LQD, AGG, BND are all the same chart as JNK above. High-yield is topping out. Usually that is a precursor to trouble in the stock market.
Price is narrowing into the apex of that rising wedge. Higher highs occur this month, however, the red lines show negative divergence across all indicators. There is no more juice available. This is the multi-month perhaps multi-year top for the high-yield arena as 2018 begins. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.