Friday, November 28, 2014

Corporate High Yield ETF (HYG) Drops to End Week at Daily and Weekly Support

Last week, as we stated in our 11/22/2014 post on HYG, this ETF appeared to be at the underside of a line (R1) that intermittently acted as either resistance or support back into 2009.

This week, HYG temporarily broke back above this line. But today HYG stumbled hard and fell to a price below R1 that is at or near long-term support lines (S1) on both daily and weekly charts, as shown below. 

Will S1 now hold?  

Click Chart to Enlarge

Click Chart to Enlarge

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 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.

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