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High Yield funds have a great track record, per leading the stock market in both directions. Of late the high yield funds continue to reflect relative strength over the past 2 weeks and month (See inset above).
While the 500 index hit its 50-EMA line on Friday's close and much has been written about this subject, the funds are around 1% above this short-term EMA line.
If history remains a good guide, the price action of the high yield funds isn't sending a concerning message at this time about the stock market.