HYG Update

First I just want to show the continuing leading in the SPX/RUT Ratio, again the last time this happened to this degree on a positive side was the first week of August before the August rally.

 SPX/RUT Ratio positive and the VIX Term Structure is inverted still, a buy signal.

There's no reason HYG would be under any kind of accumulation unless something was going oon, it continues to lead the SPX as well. 15 min chart.

10 min HYG

5 min HYG

2 min HYG.

This is one of the levers in credit used to manipulate the market, but they get out of this one quick which is why it tends to lead, again, there's no reason we'd see this level of positive divergence in HYG unless there was an upside event in the works.