11Mar12:49 pmEST

Miller Time at the Junkyard

In addition to the ECB this week, the rallies in high yield corporate and junk bonds (HYG and JNK, respectively) look to be aiding the financial and energy sectors. 

Regional banks, in particular, look most relieved, with the KRE ETF up over 2% as I write this. We profiled ZION as a quick long idea for Members last evening. And I suspect if HYG makes its way up to its 200-day moving average in the coming days that the regionals will enjoy more upside into FOMC next week. 

Also keep an eye on the XLE, which is coiled up tightly on its daily chart, not yet clearing resistance dating back to early-December 2015. The issue now is whether energy stocks follow HYG JNK higher, since it is most certainly Miller Time in the junkyard, at least for this week. 

Slight Improvement in the Gr... Ponder This Wedge Over Your ...


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