May 2, 2011 Analysis from Chris Kimble
Where is the market headed? Technical analyst Chris Kimble keeps an eye on high-yield funds for a possible clue.
Chris comments: No indicator is perfect, yet high yields have a decent record for suggesting a major trend change for the broad markets.
At this time, high yield funds are working on hitting new highs for the year along with the broad market.
If the past is a guide, stocks didn’t really head down hard, until high yields were breaking support and key moving averages. For the most up-to-date Kimble analysis, check out Chris’s blog: Kimble Charting Solutions.