Select Page

JNK(Barclays High Yield Bond ETF) has been struggling with heavy resistance near its 200 day moving average.  The 200D capped the March and June highs.  JNK has not closed out a week above its 200D since Feb. 21.  Just above the 200D is a key level.  Just below $105.00 is the February low.  This was the first important low after the index took out its supportive 200D.  One week later(March 9th) the JNK collapsed leaving behind a huge breakdown gap.  Does the index have the strength to power through $105 or will we see another pivotal high?