The chart below shows that Corporate High Yield Bond ETF HYG appears to have broken support again (see line S1).
The last couple of times HYG has broken support it has rebounded off a lower support line to test previous support as resistance (red dashed lines). This has resulted in very short and unsustainable rallies that are essentially "head fakes" as far as intermediate to long term investors are concerned. This may happen again.
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| Click Chart to Enlarge |
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The content in this article, including the identification and discussion of any specific security (e.g., bond fund), is NOT meant to be and should NOT be construed and/or used as investment advice. This article is for general information and educational purposes only. Please read the Disclaimers for junkbondrecycling.com in their entirety. The U.S. Securities and Exchange Commission website has guidance on selecting an investment adviser.
Financial Disclosure:
The author/publisher has no position in corporate high yield bond funds at the time this article was written.
Financial Disclosure:
The author/publisher has no position in corporate high yield bond funds at the time this article was written.
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