Nope, its not Russia. Nope it is not falling sales revenue. Nope it is not Alibaba IPO. This is the real reason, beyond any doubt.

It is the fear of a US Corporate Bond market crash.

NOTE: Hmmm wonder why the market just held up in time for Alibaba.com IPO...

A negative effect of the FAT FED finger in the markets is a drying up of buyers (liquidity) in the corporate bond market. HYG and JNK have technical crash patterns. Just like Dow Jones 1929. Also note the high grade corporate bonds (HYG) do have an effect on the SP500 (SPY) as hedging between the two are combined in the same trade. So where the HYG goes so will SPY.

If there is a reason to sell, with folks (BlackRock) too extended on there longs, and large buyer BID are no where in sight of current market prices, that is an AIR POCKET. Large sell orders move price down to the BID very quickly. Just like what we are seeing in the HGY and JNK market now! Crash alert is RED!

Of course members to readtheticker RTT Plus have had fair warning of weakness post July 2014.

Chart...

NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net

Investing Quote...

"In the long run commodity prices are governed by one law - the economic law of demand and supply." ~ Jesse Livermore

"Money can't buy you happiness but it does bring you a more pleasant form of misery." ~ Spike Milligan