Orange Line = SPX
Blue Line = HYG/IEI = High Yield/U.S. Treasury Bonds
Strong Correlation between HYG/IEI and SPX.
Ascending Triangle pattern for HYG/IEI indicates more upside --> SPX to the moon.
Comment:
Divergence between HYG/IEI and SPX led to the 2022 Bear Market. Let's see if the Divergence this time will lead to the 2023 Bull Market.
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Divergence between HYG/IEI and SPX led to the 2022 Bear Market. Let's see if the Divergence this time will lead to the 2023 Bull Market.