I want to add this to the post from earlier. This is not particularly risk on. You can see that $JNK is not at all confirming this move in the S&P. And in fact, it may be losing both this structure, and its 250-day EMA, putting it, strictly-speaking, in a long-term downtrend. So, someone is seeing a lot of risk here, it seems, and we should take note.
[UPDATE]: So, yeah, that was a warning after all.
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