Broad Market Update

These are Leading Indicators and they have been turning to the downside, they continue to.

 This is the manipulation lever asset HYG, it is falling off even worse in to the close.

That's after a gap down today that took out 2 weeks of gains. You may remember the 3C charts from earlier also showing distribution in HYG.

High Yield Credit is not buying at all, in fact the opposite. "Credit leads, stocks follow".

It looks like a little monkey hammering of the VIX in to the afternoon to support the market, but...

 VIX closed green last week for its best week of the last 5 weeks. Protection is being bid as it seems they are wrapping up this move that started with a sling shot around a bear flag a couple of weeks ago.

TLT is acting as normal, I'll update this later, there may be a new dynamic developing here.

 Here's a little larger view of 20+ year treasuries, as I said, I'll update these in another post.

Because of the reversal the last few days in treasuries, Yields have been supportive of the market, but they are still...

VERTY disconnected and they act like a magnet, pulling stocks to them, even with this little support (white) recently, there's still a massive dislocation.

This is professional sentiment, they are not buying this either, in fact the opposite.

As is this indicator.

I'll be posting specific trade ideas in a little bit as my watchlist is growing by the hour.