JNK:TNX Daily ratio -- price flirting with major triple bottom support...some positive divergence on all 3 indicators...hinting that JNK will attract buyers in spite of rising interest rates: 3-Year Daily chart of JNK:TNX
JNK attempts to stabilize at 200 Day MA...will see if traders buy into corporate bonds once more...frothy volumes kept price from plunging after initial drop below 200 MA...all 3 indicators pointing to a higher price...if so, equities should continue to rise, in general, but will see how JNK performs against TNX in the coming days/weeks: 3-Year Daily chart of JNK
TNX approaching major resistance level on slightly negative divergence on indicators...hinting at pause or slow-down in rate rise: 3-Year Daily chart of TNX
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