$JNK looking heavy …

note, $JNK found support and the market rallied.  we had a pattern completing at 35 which held but it certainly looks heavy to say the least.

we need to watch this one, closely.  if you simply look at the picture presented we have never closed below the yellow boxed area since the rally started and 06/2009.

Institutions bail out of risk assets when they are “risk adverse” … watch this closely.

sure looks heavy, hugh?


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: