Credit is seeing Distribution

This has been more of a short term (Lever), but one I've been watching for, HYG intraday distribution.

Yesterday and the day before I mentioned JUNK credit was already seeing this distribution, Junk credit trades almost exactly like HYG, but since it's not an arbitrage asset, it sometimes has a more accurate signal.

Now HYG is following the lead that was apparent in JNK a couple of days ago.

I'll take a look at Leading Indicators in a moment, but it looks like all of the short term timeframes I have been waiting for before entering anything too serious are now starting to come together pretty quickly this morning.

 HYG 1 min saw strong distribution as a lot of other assets at the same area this morning

HYG 2 min

HYG 3 min at the same location this morning.

HYG 10 min is a bigger and much more important timeframe.

Here's JNK

This started earlier- 2 min

JNK 3 min leading negative divegrence

JNK 10 min.

This is a significant signal