SPDR BLOOMBERG BARCLAYS HIGH YIELD BOND ETF

See chart. Note the timing in cycle days between the last one and this one, and all of them actually, surprisingly similar, wow what a cycle. Exactly the same, if we of course break down now. Equities have to bow to this leader. Our vix bottom indicator is actually below the extreme levels of past bubble bursts. No where to go but down (chart), and up on the ...

Spreads are far too tight considering current credit quality. Oil is not cooperating, and although it's being used as a duration haven, I believe high yield bonds are poised to take a bath here. Short to 35, and take half with a tight trail. ATM Sep puts may be the best way to play it, with a 8/1 risk reward. TA shows ascending wedge exhaustion on the retest, ...

JNK v SPX possible support at 50% Fibo. See what happens.

Should price move below the pivot low of 35.94, without making a new high, this short setup will be valid. Price should retrace at least the entire wedge, but more likely the entire move from 31.

Soon to be "exposed". SPY needs this to be Bullish. Rolls over very soon.

Always worth tracking JNK if trading $SPY.

This is the main chart that I am watching at the moment. It has all the information on it that I need to see the markets direction. The main drivers on this chart are oil and JNK (junk bonds). As you can see stocks SPX have diverged to the upside while USD/JPY has diverged to the downside. I am watching in particular for the JNK support to break down with oil. It ...

Last time price was over its 100DMA was May last year n probably we may see that happen sometime in May this year but now it looks we will not touch it but head back to Feb low. This is another indication that recent rally in the market was fake and may not last that long

Needs to be Bullish for a strong SPY. Nice Morning Star ~ Hammer Reversal confirmed.

Correlation is certainly not causation, but it is striking that upward behaviour of SPX, DXY weighted SPY and JNK correlate with CNY depreciation. It is also striking that JNK and DXY weighted SPX correlate with appreciation of CNY. SPX not. Not yet? Waiting on the usual Sunday night PBOC announcement... Short SPX!

Junk Bonds vs. U.S. Dollar

Approaching possible target

Sentiment has still room to medium level

Sagging of the quad top. Nice "TELL" for SPY. Lower.

this Junk bond has made a series of lower low, in the event that price is able to break the blue overhead resistance, 200ema is the next supply region

TThough High Yield Credits aren't decreasing, the spread between the 2 is starting to increase. Wait for SP to drop.

Does it mean that this Junk Bond is going to pull the stock market down again?

JNK & JJC Nice early Indicators for SPY. Cautioned advised.