The SPDR Barclays Capital High Yield ETF(NYSE:JNK) has traded basically flat for the session. This ETF has made a low on the daily chart November 23rd at $39.63. Since that time the JNK has rallied slightly higher, however, it still remains below the daily 50 moving average. This tells us that the JNK is still in a weak technical position on the daily chart. Intra-day the JNK will have short term support around the $40.00 level.
