Friday, August 21, 2015

HYG Continues Plunge - Approaching Dual Support and Oversold Conditions on Weekly Chart

We previously discussed here that HYG may be headed lower, possibly much lower.

Since then, corporate High Yield Bond ETF HYG has continued its plunge and is approaching dual support as shown on the weekly closing price chart below.

In addition, HYG is nearing its most oversold conditions since the 2009 crash.

Will HYG rally off these support line or continue lower.  We may know relatively soon.

click chart to enlarge

Please remember that this is not investment advice. You alone are responsible for your investment decisions. See disclaimers below and elsewhere on this website.

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 (long or short) in corporate high yield bond funds at the time this article was written. This position may change depending on future price action.

 Base Chart Provided Courtesy of  Analysis and Annotation by JunkBond (all rights reserved)

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