JNK is an ETF that tracks rated high-yield bonds or "junk bonds". These are the bonds rated Ba1 & BB+ by Moody's Investors Service, Inc., & Fitch Inc. respectively.The bullish divergence with the ROC is pointing out that a bottom is near.
Bonds bottoming is a good sign for the market and breakout to the upside should confirm a healthy uptrend for stocks.
This ETF has a high correlation with the
SPY; 0.7021 for the last 3 years, so, let's wait and see.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.