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Over the past 30 days, high yield funds and high yield ETF (JNK) have reflected relative strength, when compared to the S&P 500.
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The above 4-pack reflects that high yield mutual funds have remained above their 200-EMA lines and now are back above their 50-EMA lines, after a few days below the 50-EMA. In the past, positive price appreciation in the high yield complex has been a good signal for the broad stock market.
It’s weird that CNBC and yahoo webpage so JNK and HYG are in the green today when in fact they are in the red from yesterday.