High yield bonds (junk bonds) hit monthly resistance line.
Fundamentally, the US corporate debt has almost doubled since 2008.
Right now over 50% of them in the market are BBB, which is just a cut above junk.
Further analysis: youtu.be
SPX has been being held up by the “14 points per month” line projecting from the 2019 low
If you are into Gann/astrology, you’ll know that it’s half of the Helio Saturn angle (28 points per month).
Diminished momentum going up as seen by bearish divergence in monthly RSI.
Will SPX hit the half H-Sat support again before going higher?