iShares iBoxx $ High Yield Corporate Bond ETFArca
Description
⋅ The high-yield market (HYG)
High yield and stocks are normally highly correlated and the HYG ETF often acts as a barometer for strength in the Stock market..
As you can see things have gotten tight here in the pennant and HYG not surprisingly has chopped around just like the Spy.
Bears will see a H&S
Long only over 75 (Weekly 50sma)..
Short under 74.00 (Supporting trendline
Bollinger band on the 4hour has gotten tight implying a big move coming . We'll know bu Tuesday the direction