AMEX:HYG   ISHARES IBOXX $ HIGH YIELD CORPORATE BOND ETF
69 0 5
http://www.bloomberg.com/news/articles/2016-04-05/the-coming-default-wave-is-shaping-up-to-be-among-most-painful

http://www.cnbc.com/2016/04/07/socgen-warns-of-tidal-wave-of-corporate-default.html

http://www.zerohedge.com/news/2016-03-28/ytd-corporate-default-jump-highest-2009

Credit ratings of the US firms are deteriorating fast-pace. This year we will see new record in corporate defaults. We have seen this year already 32 global corporate defaults ( 2009             there was 42, this year we will have more than that!).
This could be a turning point of this nonsense rally.
Short if the neckline breaks. Potential H&S formation.
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