The chart of the day is HYG, the iShares iBoxx $ High Yield Corporate Bond ETF.
I consider HYG a reflection of the risk tolerance of the market.
When economic assumptions and sentiment are favourable, high-yield corporate bonds are attractive to lower-rated bonds and treasuries with the price advancing.
When economic assumptions and sentiment are bearish, high-yield corporate bonds are less attractive to lower-rated bonds and treasuries with declining prices.
Today's chart shows how the price broke down below the yellow trendline, below the green declining 50-Day Moving Average and the declining purple 200-Day Moving Average.
This chart suggests the beginning of a medium to long-term downtrend.
The HYG chart is one to include in your assessment of the health of the stock market.