Buyers pushing HYG towards its price target of $74.4; currently at $74.7

• Bullish session prepares challenge of $74.4 level, currently 31 cents above current price of $74.7
• Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares's upper Bollinger Band® is at $15.47 which indicates a further downward move may follow.

IShares iBoxx $ High Yield Corporate Bond ETF's run now faces a challenge at $74.4, which is only 31 cents away and will be interesting to follow. Although up today, early price action saw iShares iBoxx $ High Yield Corporate Bond ETF dropping below its 5 day Simple Moving Average at $74.24 — an early indicator that a new downward trend could be emerging. In contrast, carrying strong bullish sentiment, iShares iBoxx $ High Yield Corporate Bond ETF surpassed $74.63 as its key Fibonacci resistance hurdle with sights already set on the next Fib level at $75.11.

IShares iBoxx $ High Yield Corporate Bond ETF is likely to reverse course and start pointing downward in the short term.

With regards to technical trend indicators, chart analysis show that Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares's CCI indicator has fallen below -100, meaning prices are unusually low compared to their long-term average. Asset volatility analysis shows that Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares's lower Bollinger Band® is at $12.41, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Visual analysis of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares's chart shows that bearish run for Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares is facing a possible turning point at $13, which is only 25 cents away. If this support line fails to hold, the next target will be at $12.65.

For the time being, Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares remains flat without a clear direction.

VanEck Vectors ETF Trust – VanEck Vectors Social Sentiment ETF's recent run now faces a major challenge as concentrated supply is likely found at $14.23 with price action currently 22 cents away. Around $14.3, VanEck Vectors ETF Trust – VanEck Vectors Social Sentiment ETF can look to establish a new bullish phase beyond its 10 day Simple Moving Average.

Overall, looking at the technical analysis landscape, it seems VanEck Vectors ETF Trust – VanEck Vectors Social Sentiment ETF might continue pointing upwards in the short term.

Fundamental indicators – United States ISM Non-Manufacturing PMI (Feb) released today at 15:00 UTC with a figure of 55.1, while the previous figure was 55.2.