So I’ll be keeping track of JNK for now as well. Should note that I will be tracking the NAV and not the actual trading price. And no Long-Term for it as the security hasn’t existed long enough. This will leave me without the ability to do volume analysis. (I actually could probably code a study in thinkscript which just steals the volume numbers from the real JNK ticker, but yeah…I’d only do that if I was getting paid to. Takes too much time to figure out.)
Short-Term
RSI is getting overbought, and currently diverges against price highs. The momo is pretty strong though to have broken the downtrend and pushed above the moving averages…
Overall think it eventually reaches resistance at 35.1 but might go back down to rest at support at 34.45 first.
Mid-Term
RSI has significant room to move higher and recently regained the 50 level with significance. I would expect to see it touch 35.65 eventually. Admittedly though the area it’s in right now is an air-pocket, which leaves it without support really. Still, momo is to the upside. Because fundamentals, and corporations defaulting on debt…heeeeyyyy no big deal. Logic.
Oh and I may yet be vindicated on oil…
Jag hatar dig som nykter, och jag älskar dig som full
Allt har blivit dödligt, man får cancer utav sol
Jag hör hans röst och den är cigaretter, gråt
Den tunne vite greven sjunger om gyllene år