Weekend Jan 7 2023
I mentioned that Hedge was forming a large trianble. The rally Friday took HDGE to its lower trendl ine.
but the advance decline for the NYSE looks to be turning up.
If A and B are complete this is the start of a C Wave which could reach higher, that would result in lower prices for HDGE.
AMZN is arguably a proxy stock for the entire market. It looks to be completing a five wave decline which makes a rally back to 100 ikely.
Here is a a closer look.
This is an outside reversal day to the upside of 3.56%. That same formation was the high of Dec 13 but it now looks like five waves are complete, so let's see this next week. AMZN is so oversold it could stand a relief rally.
One of our closed end munis bottomed on Dec 27. It should ow be in a third wave up and on teh two hour chart appears to be breaking out.
High yield or junk bond funds are om a bear market, but will exhibit impressive rallies on the way down, here is HYG.
HYG Weekly
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