FINANCIAL ICEBERG
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 TECHNICALS
US High Yield Corporate Bond ETF HYG: At Technical Crossroads? 
​July 18 2016  ( From Tradingview,  )
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The Situation

​

​​As the Chasing Yield Stampede goes on, Market Participants have
considered a come back on the US High Yield Corporate Bond after
the ​​correction at the beginning of 2016.

​​Looking especially at a Daily chart on the HYG ETF ​(iShares iBoxx 
​$ High Yield Corporate Bond ETFiShares), ​we can observe that we​ 
​are now testing ​the Major resistance trendline that started ​back since ​​June 24 2015. 
​(See First Chart Below - Blue Trendline - Ellipse)

Interesting to note that the Volume of the HYG ETF have been ​declining in the process of testing the resistance trendline. (See First Chart Below - Bottom Blue Area)

​​​​​​But few of us realize that as the HYG ETF continue to defy gravity as most managers ​were quite ​bearish on US rates and corporate bonds since the beginning of the year.​.  As rates all over ​the world ​continue to tumble, US rates remains one the highest quality at the ​highest rates available with still some good relative liquidity.

But looking at a Weekly chart on the HYG ETF, we have a Shooting Star Technical Pattern.
(See Second Chart Below - Ellipse)

So this week is a crucial test as we will make the difference between a Top in price or a Major Breakout for the HYG ETF.
​​​
​​​​We will have to monitor carefully in the next few trading sessions: as we can say, HYG ETF is definitively at Technical Crossroads...







US High Yield Corporate Bond ETF HYG: At Technical Crossroads?  $BONDS $HYG  #Trading #bonds  #investing #hyg


DAILY Chart (Candles)
 HYG ETF (​iShares iBoxx $ High Yield Corporate Bond ETF)
​20 DMA ( Yellow Line )
​50 DMA ( Red Line )​
200 DMA ( Green Line )​

Volume ( Bottom Blue Area )​



Financialiceberg.com




WEEKLY Chart (Candles)
 HYG ETF (​iShares iBoxx $ High Yield Corporate Bond ETF)

Volume ( Bottom Blue Area )​




Financialiceberg.com