Things just got real interesting for HYG / HY Credit

This is one of the primary ramping levers, in fact I'm working on a semi-automated trade system based on HYG.

The primary trend in HYG has been some of the best data that the market is in more than serious trouble here, but on a sub-intermediate basis, it has been used to ramp the market on this latest run. The timing timeframes just got incredibly interesting and I'm guessing HYG's is red before I finish this post.

 The primary downtrend in HYG leaves no doubt in my mind that it resolves to the downside and as a risk asset and a much smarted market than equities, it tends to lead, stocks follow. The primary downtrend has seen consistent distribution and even this most recent counter trend ramping move is in trouble...2 hour

The 30 min chart shows more local detail and the parabolic move in HYG, although the market has not responded in kind as it would have a year ago, this is about to fail as the chart is leading negative and the parabolic move, well...

Here's more recent damage to this swing that has been supportive of the market, a 15 min chart so the outcome here leaves little doubt it fails , but when?

The 10 min chart with more confirmation of heavy damage.

And a trend of the 1 min chart which on a closer perspective, acts as a timing indication.

Considering the information the market received this morning and what it may mean as it relates to a June hike, I find the intraday HYG chart VERY interesting, especially as the averages start to get more interesting...

Need I say anything? HYG intraday, that's some serious underlying action and not bullish by any means...