Elliott Wave Theorist’s Steve Hochberg recently wrote this:

Elliott Wave Theorist’s Steve Hochberg recently wrote this:

“As the bear market progresses, U.S. junk bond yields will eventually resemble China’s junk bond yields as world credit evaporates. The contagion will then spread to higher-grade credits. It’s how bear markets operate.”

My take: He could be correct, because he sure doesn’t know how a bull market operates.