So it is probably very important to the summer rally that HYG-LQD hold the cluster of moving averages it is currently dealing with. This is all about sentiment resetting isn't it? Over here http://www.biiwii.com/analysis.htm, a note from the AAII on sentiment (top item) says that dumb money is starting to get a little more confident.
While I think the asset rally is more likely than not to continue pending some August chop, it may not be wise to count out the anti-market (Uncle Buck) in any sort of lasting way. NFTRH has set a parameter for USD that could end the global rally.
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