A few weeks ago I wrote about the coming default wave in the high-yield bond market and recommended a tactical strategy for that possible scenario (See Code Red in High Yield). This may be an opportune time to put that strategy to the test. Recently the strategy flashed a sell signal when the SPDR Barclays High Yield Bond ETF (JNK) dropped below its 21 week exponential moving average, a form of smoothing the price trend line.
A few weeks ago I wrote about the coming default wave in the high-yield bond market and recommended a tactical strategy for that possible scenario (See Code Red in High Yield). This may be an opportune time to put that strategy to the test. Recently the strategy flashed a sell signal when the SPDR Barclays High Yield Bond ETF (JNK) dropped below its 21 week exponential moving average, a form of smoothing the price trend line.
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