Market has bottom according to HYG
Updated
This is a monthly chart of the HYG with RSI. It hit an extreme low level on RSI only a few times in the last 12-13 years. The other times are March 2009, January 2016, December 2018 and March 2020. During these times, the equity market had rallied back up to all-time high after a correction or bear market. This could be a potential market bottom again and a buying opportunity. Remember it was gloom and doom in the news everywhere during all these instances. It looks the same this time. Remember trade what the chart tells you not the news.
Note
Remember this is for long-term view of the market, not for short-term trading. Please evaluate your own risk.Note
Looks like false signal. HYG could move lower to the 2020 low.
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