Regardless of the HYG ETF opening higher, stocks have sharply reversed to the downside at the US open. Finding a floor, they appear to go on an upswing, and the price action shows another attempt at the 61.8% Fibonacci retracement isn't likely far off. As a result, opening long positions is justified.

Trading position (short-term; our opinion): long positions (100% position size) at market (that's 2921 currently) with stop-loss at 2850 and the initial upside target at 2970 are justified from the risk/reward perspective.

Thank you.

Monica Kingsley
Stock Trading Strategist
Sunshine Profits - Effective Investments through Diligence and Care