Junk bonds are very important among risk assets, and they often send signals that anticipate what will happen to stocks. Seing the rejection at the all-important falling resistence, and the break of the rising trendline from last spring, one can't help but feel uneasy about the markets in the near to mid term... especially after a rally that's sucked EVERYBODY in, and going into a notoriously treacherous month like March. Continued weakness in JNK would strongly confirm the idea of entering opportunistic shorts on stocks and indeces. This one for me is on the front burner.