In late August we saw Junk Bonds break down from its Diamond top-formation (see my August post here: http://theelliottwavesufer.blogspot.com/2011/08/junk-can-be-nice-but-not-all-time.html )Junk Bonds are leaders, they break down before stocks do, so the break down from support confirms, that the next decline towards the 32.60 Diamond-target is under way. But the break down spells trouble for the equity market. Prepare for the next leg lower soon.
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