• High yield spreads are starting to widen out again in a noticeable way.  If one waits until they reach the levels they did in March or last year, it will be too late to react.
  • The XLU utility stock ETF has become extremely oversold…and thus it is getting ripe for at least a near-term bounce.
  • The stock of JP Morgan (JPM) is testing a key support level.  If (repeat, IF) it breaks below that level, it will signal that more work need to be done before the stock (and likely the group) sees a meaningful bottom.
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