Tech and Junk Bonds both testing important breakout tests

CEO of Kimble Charting Solutions • Aug 17, 2016 at 11:20 AM EDT

Nasdaq 100 is now testing its 2000 highs and at the same time, junk bond ETF (JNK) is testing dual resistance.

tech junk pic

Below looks at the Nasdaq 100 over the past 20-years and Junk Bond ETF (JNK) over the past decade.

NDX 100 and JNK testing breakout levels aug 17

(Click on image to enlarge)

Nasdaq 100 is now testing its 2000 highs and at the same time, junk bond ETF (JNK) is testing dual resistance at (1) above.

The “risk on” trade wants/needs these two key sectors to breakout above these key levels.

If they do breakout, it would send a positive price message to the risk on trade.

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