In an about face from two days ago, corporate high yield bond funds, daily charts shown below, have bounced off dual support (green lines) and rallied strongly to finish the week. In the process, some of these funds regained other support lines (not shown) that failed earlier in the week.
Corporate high yield bond funds have had a rough ride since the beginning of September 2014. Will the rally continue off of these support lines and oversold conditions? If so, how will it be limited by overhead resistance? We shall see!
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| Click Chart to Enlarge |
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| Click Chart to Enlarge |
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| Click Chart to Enlarge |
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Not Investment Advice | Important Disclaimer:
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 several positions in corporate high yield bond mutual funds at the time this article was written.
Financial Disclosure:
The author/publisher has several positions in corporate high yield bond mutual funds at the time this article was written.
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