Aside from the obvious Kraken that will bring doom to the world, we're in what appears to be the apex of an ascending wedge, so a break down out of the wedge should open up some tradeable move, we've come up relentlessly on low volume. I'm hesitant to enter long positions here even if we break up. I'd feel more comfortable thinking about long positions after a significant pullback.
Moody's Investment Grade Companies Downgraded to Junk
Q1 2016: 44
Q1 2015: 9
Q1 2009: 32
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% of Junk Bonds trading at Distressed Levels
2015: 20.1%*
2013: 11.2%
2011: 16.8%
2009: 23.2%
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Number of US Companies rated AAA
2016: 2
2015: 3
2014: 4
2013: 7
2012: 7
2011: 9
2010: 27
2009: 41
2008: 43
2007: 55
2006: 54
2005: 53
Bloomberg
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