HYG Death Cross... Caution Warranted
HYG put in a Death Cross last week and this week, on November 22nd, HYG lost the October 11th low with SPY selling off heavy into the close. We may backtest the October 11th low but this is a potential negative indicator for equity risk on. Equities tend follow lockstep with high yield, or so they have with every major selloff since 2007-2008. This is something to keep an eye on over the next week or so, especially after Thanksgiving.
Bình luận:
SPY now down 2% on Black Friday.
Bình luận:
HYG backtested last fall yet is set to break December 1st lows in February 2022. Equity market now on crash alert.