$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?