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Junk Bonds are often looked at as leading indicators for key moves in the stock market.
The above charts are weekly views of these ETF's, reflecting that both of them created bullish wicks at support with momentum the most oversold since the 2011 lows.
At the same time Junk was hitting bouncing off support lines, our proprietary "Shoe Box indicator" was hitting 5-year support levels and started sending off bullish signals the first of last week, while stocks still remained soft.
From a message perspective, this type of price action from the junk arena is usually a positive for the stock market.