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Chris comments: As I illustrated last week (see chart below), the S&P 500 has made a series of lower lows while high yield funds were creating a series of higher lows.
The six-pack of high yield funds reflects that 5 of the 6 did not break their 200-day Exponential Average lines, and of late 5 of the 6 are not only above their 50 and 100 EMA lines, but also the 50 EMA is now crossing above the100-ema (bullish crossover)!
In the past the high yields have been a decent leading indicator for stocks, whether this is true or not going forward, this positive move in the high yields reflects a BUY SIGNAL for the high yields.
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