Updated HYG chart below. I added a support line that was omitted from yesterday's post and highlighted the reaction points and zones that were used to draw the long-term support lines since this may not be obvious.
The day has just begun, but early price action so far suggests that support may hold with HYG still up about 0.70% as this is being written. As long as support holds, the long-term trend would still be positive (as the long-term support lines both have a positive slope).
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The author/publisher has positions in several corporate high yield bond funds at the time this article was written.
Financial Disclosure:
The author/publisher has positions in several corporate high yield bond funds at the time this article was written.
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