Two Important Clues Today

Two relationships are making seismic changes:

1. The relationship between stock indexes and the dollar is number one.

2. And the relationship between stock indexes and high yield bonds are an even bigger story.

I am watching the high yield bond ETF, HYG. If it takes out 85.50, there might be a lot of people learning. This vehicle has been the support factor for the zombie crowd and parabolic moves since almost a year ago April 9, 2020.