Thursday Nov 25 2021
HYG
junk bonds are really high yield stocks, they soar in bull markets if rates decline and dive in bear markets, see Evergrande and other Chinese high debt bond prices now trading at 20 cents on the dollar.
The big volume days, note arrows occurred on down moves. Investors are sensing the time to leave is NOW !
This does not portend well for the overall stock market. Price dove thru the 200 day MA already and it probably re testing the drop now. by that we mean it comes up for a kiss on the MA and then usually fails falling further.
JUNK shows the same five down three up and now hard down pattern with volume expanding on down days.
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