Wednesday, June 3, 2015

HYG Breaks Pennant Pattern Support

The two daily charts below, shorter- and longer-term, show that corporate high yield bond ETF, HYG, appears to have broken Pennant Pattern support.   MACD signals also appear negative (bearish).  The longer-term chart shows that HYG is still within a rising channel.  

I harvested gains in corporate high yields a couple weeks ago based on technical signals provided by mutual funds that I track and analyze.

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 mutual funds at the time this article was written. This position may change depending on future price action.

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