Chart In Focus Junk Bonds Don’t Confirm Higher Highs The SP500 has rebounded from the May 17 one-day panic to push to a higher high. But high-yield bond ETFs like HIO are not confirming that higher high, and that’s a problem. High yield bonds typically[…]
Category: McClellan – Chart in Focus
So because lumber prices have been trending strongly higher, that should mean higher numbers of new home sales.
It is not a surprise that U.S. Treasury yields are correlated with those of other countries. And so it should not be too much of a surprise that when China’s 10-year sovereign bond yield is zooming upward, that the U.S. 10-year T-Note yield should follow.
If you want to know ahead of time that trouble is coming for the stock market, then one of the best places to look is the high-yield (or junk) bond market.
Is Iron Ore Weighing Down Stock Market? April 20, 2017 Some U.S. stock market investors are getting worried about the price of iron ore in China. This week’s chart helps to show why. One analyst who noticed this relationship was Alastair Williamson of Stock Board[…]
Gold Resolves Some Bearish Divergences April 15, 2017 A week ago, it was not looking good for the gold bulls. The dollar price of gold had not yet made a higher high, even though the Japanese yen had already pushed to a higher high. […]