Yesterday I shared that the Dow was pushing above a sideways channel, breaking above the top of a 12-year resistance line (see post) This is only the second time in history the Dow has moved above this key line. Below is an update of the high yield mutual funds, reflecting more positive price action.
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I will continue to “rent” high yield funds until the prices start to break support and EMA lines. In the past, stocks have usually held up to moved higher, until these started breaking down.
