The chart if the day is the Bradley Siderograph via kirklindstrom.com and serves as an useful tool to detect trend changes in the market. It doesn't indicate market direction but can be used to identify key inflection points. It is better used in conjunction with other indicators than in isolation. The key dates for 2016 are shown below:
The Incredible 13%-Yielding Junk Bond Fund That’s Backed By The Fed
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Those dark days did do one critical thing for the high-yield corporate-bond
market: made these so-called "junk bonds" too big to fail.
3 minutes ago