The premarket S&P 500 upswing was fabulous, and both the index and the HYG ETF opened solidly higher. The HYG:SHY ratio also pointed to the stock upswing not getting ahead of itself, relatively speaking.

But a short-term selling wave has arrived, and it could do with this CNBC's article: https://www.cnbc.com/2020/06/16/one-in-five-people-worldwide-at-risk-of-severe-covid-19-study-says.html

While the medium- and long-term outlook still remains bullish, it makes sense to take sizable open profits off the table (at market, which is 3102 currently) and wait for another opportune setup.

Thank you.

Monica Kingsley
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.