The same theme I was pointing out last night and today continues, I don't think this is the end of the pre-F_O_M_C move just because of the position HYG is in to fire off to the upside and help,
if HYG's shorter positive fails, the market will be in trouble very fast.
Today the IWM (as shown in one of the last updates, is seeing more distribution than the other averages.
IWM intraday positive to send it higher to only see higher prices (even intraday and relatively weak ) see distribution, same theme as last week, especially Thursday/Friday.
This makes SRTY (3x short Russell 2000) one of the more attractive inverse leveraged ETFs and it just so happens to have a nice reversal "Process" already in place and fairly well developed.
This is the dichotomy I was discussing last week, between getting the best entry or chancing missing the move, but having to likely sit through some short term draw down, it's becoming a decision that each of us has to make and I don't think there's much time to make it.
SRTY 2 min intraday.
As the IWM is seeing distribution on the move higher off intraday lows, it's inverse, SRTY is seeing positive 3C accumulation signals.
This is the big picture in SRTY (60 min), a nice rounding bottom, the only thing missing is a head fake move to shakeout stops, but that 60 min leading positive divergence is very hard to look at and say, "I think I'll wait" until timing is perfect.
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