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dpuleo19

Good news for stocks, bonds are bottoming $JNK

Long
SPDR Bloomberg High Yield Bond ETF (AMEX:JNK)  
dpuleo19  
AMEX:JNK   SPDR Bloomberg High Yield Bond ETF
Trend Analysis Technical Indicators JNK SPDR S&P 500 ETF (SPY) correlation bottom Bullish Divergence
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trendanalysis indicator jnk spy correlation bottom bullishdivergence
JNK is an ETF that tracks rated high-yield bonds or "junk bonds". These are the bonds rated Ba1 & BB+ by Moody's Investors Service, Inc., & Fitch Inc. respectively.

The bullish divergence with the ROC is pointing out that a bottom is near.

Bonds bottoming is a good sign for the market and breakout to the upside should confirm a healthy uptrend for stocks.

This ETF has a high correlation with the SPY ; 0.7021 for the last 3 years, so, let's wait and see.

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