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Is the Sky going to fall because junk bonds fall 1.4%? Junk Bond ETF (JNK) has been in the news of late, due to recent softness. Should we be concerned? Some seem to think so!
The lower inset chart does reflect that JNK has lagged SPY by almost 2.4% over the past 30 days. Is JNK breaking down? At this time JNK remains above rising support that started in October of 2011.
In my humble opinion, how JNK handles rising support in the next few weeks to come, is much more important that what JNK has done over the past 30 days.
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