High yield funds remain quality leading indicators for stocks on both the up and down side.  The funds broke below their 200EMA this past summer (see post here), suggesting equity weakness was in the near future and the message was spot on!

The above 6-pack reflects that the majority of these 6 high yield funds are moving above popular moving averages. 

On the earlier rally the funds were not able to get above their 100EMA lines… now on the second attempt, some are doing so.

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past