Courtesy of Doug Short
Today’s contribution from Chris Kimble features some interesting analysis of Copper and JPMorgan’s High Yield Fund (OGHBX) together with a repeat of the long-term view of the S&P 500 that he shared yesterday.
Chris comments: Copper and high yield funds have been good leading indicators for both rallies and declines over the past few years.
Of late both have formed bearish rising wedges and are breaking key support lines.
When we combine these patterns with the S&P 500 resistance illustrated in the second chart above, the potential macro message is one we should respect.
For the most up-to-date Kimble analysis, check out Chris’s blog: Kimble Charting Solutions.