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Attn: NFTRH Subscribers (and blog readers) - Risk

|Includes: iShares iBoxx $ High Yield Corporate Bond ETF (HYG), JNK

After the update on the HUI's monthly chart this morning, I sent out another quick update on something I think is potentially pretty important. Unfortunately, due to a website hosting upgrade happening this week, I am not sure you got it. These updates come back to me as well and I did not get mine back from the server so I assume you did not receive either.

It was no real biggie. The more important update was that on the HUI. But when I write 'risk is rising' here on the blog, I think there is no better indicator for that than the junk bond etf, home of the most brash speculators, which until yesterday had not had a down day since early July. Today, it is threatening a second such day. Think that's significant? Yes, me too.

Recall that our measured target, shown in NFTRH43, was 83 and now there is the first sign of red in nearly a month. Here, risk (junk debt, the very definition of risk) has literally been rising day after day, until yesterday.