HYG & TEI – Risk On?

Is this a screwy market or what?  The most speculative items, including junk and emerging market bonds are zooming upward. Risk appears ‘on’, with emphasis on the word ‘risk’.

Meanwhile, in a not so bullish sign, USD may be forming a Hammer at the end of a short-term downtrend (at least that is how USD fund UUP looks now).  The candles on these charts (below) are not Hammers.

Risk is in this market to go around for everyone.  As noted in an update to subscribers the other day, the market is like a table with a bunch of tops all spinning around on top of it.  Kind of confusing, and dangerous for the time being.

hyg tei

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