No one wants to be last one standing when the music stops. Studying the AD, money is fleeing Corp Bonds... They just got bailed out, and likely will resume share repurchase programs, and pension fund manager can continue to invest in high yield, why? Because the Gov't has shown us time and time again, they will come to the rescue.
There is a bearish divergence by the AD on this chart, bonds while up for the day sold off a little. This needs to stay above $71, I can't see a handle forming on this base just yet, due to the bearish divergence by the AD