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High Yield ($HYG) and Small Caps ($IWM) Still Problematic for Big Cap Indices ($SPY)

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 20, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Both the High Yield (HYG) and the Russell Small Cap Index (IWM) ETFs have broken down from major multi-month top formations that argue strongly for a similar break down in the Big Cap SPY, which so far remains above its key breakdown zone 182.50-181.90. That said, with the heart of earnings season directly ahead, we will soon find out if the SPY companies can withstand any pressure at all from a "profits slump" or profit margin deterioration. Judging from the action in iShares iBoxx $ High

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