Beloved 5-Star Sloper "Dollar" pointed out an interesting tidbit in the last post's comment stream:
The divergence in the performance between junk bonds (HYG, JNK) and the S&P (SPY) is a yellow light to stock bulls, says technician Jon Krinksy, as the move resembles those just ahead of previous big selloffs. Another sign: Relative strength might be shifting to Consumer Staples (XLP) from Discretionary (XLY). Are investors bracing for a pullback?
I did a comparison of HYG and SPY; check it out: