Potential trouble ahead for stocks as selloff in junk bonds prompts recession fears

by MarketNewsData

From Investing.com: 2024-08-08 02:36:00

Long bonds were predicted to be a major trade due to high yields falling and potential Fed rate cuts in September. Investors feared recession, leading to a rally in equities. Junk bonds are now a focus for predicting market trends. HYG resistance at 78.00, support at 77.50 and 200-DMA. Bond traders worry high yields may be ending since 2022.

ETF Summary:
– S&P 500 at 540 resistance, 505 support
– Russell 2000 at 210 resistance, 199 support
– Dow at 380 support
– Nasdaq at 430 support
– Regional banks at 50-52 support
– Semiconductors at 212 support, 240 resistance
– Transportation at 61 support, 63.50 resistance
– Biotechnology struggling to hold recent rally, support above 135
– Retail watching Monday’s lows for support
– HYG at 77.00 key support level.



Read more at Investing.com: Selloff in Junk Bonds Could Signal Trouble Ahead for Stocks

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