From Kimble Charting Solutions:

High-yield mutual funds have been very good tools/leading indicators for the stock market.

Last summer/fall, I shared the chart below because something jumped out at me..."stocks were struggling, creating a series of lower highs, yet high yield funds were expressing relative strength!"

This was one of the tools, along with very bearish sentiment, that made me comfortable going long stocks at the September lows and shorting bonds at the September highs.

The stock market is at the lower end of a trading range it's been in since early August, yet these high-yield funds are actually reflecting relative...

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