Take a look at corporate (junk) bonds $HYG.
This is a great instrument to monitor because it goes up when risks are falling and it goes down when risks are rising.
It's a simple, easy, and fast way to identify the market's outlook on risk.
All I see is a potential accumulation breakout, which could be ignited by this recent bull flag breakout.
Does that look like a bad market environment to you?
Hint: junk bonds don't rally on the cusp of a recession.
