Chart-in-Focus: Dividend Leadership Is Reasserting Itself; Hints At Real Economy Resilience

There are times when a chart does not merely represent the movement of a security. It reflects a broader shift in market preference. The Vanguard High Dividend Yield ETF, VYM, appears to be at one such point. 

At first glance, VYM is a straightforward dividend ETF. It tracks a basket of higher dividend paying U.S. companies and is often viewed as a relatively defensive equity allocation. However, the present technical setup deserves a deeper interpretation.