is behind us, and the result was exactly what we expected: stay the course, most sectors of the market found the obvious as a relief, and the metals rallied, right after I wrote that they would in the last Daily, Jerome Powell said that most likely the next move won’t be a rate hike, the Fed announced they will slow the decline of QT, the idea of 2% inflation is on a back burner, and now we revisit Operation Twist.
The chart shows that HYG still must contend with moving above the pivotal area of 76.50 and the January 6-month calendar range low. While HYG is holding the 200-day moving average, real motion shows that momentum remains below and in a bearish divergence.We are happy with the green today.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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