Credit vs. Equities.

Credit moved up today as it should in a risk on day, however it's also showing that it is being sold in to strength/the gap as well.

 SPY in green and HYG in red, HYG didn't move to the same degree as the market, relatively speaking in the box that represents today.

Here's the HYG chart showing the same thing as the market except the Q's which are still making up lost ground from yesterday.

 The DIA already filled the gap and is just treading water while the Q's fill as much as they can, the SPY didn't quite make it to fill the gap, but is behaving the dame way as the DIA, just laterally treading water.

DIA 5 min.

 The Q's are showing signs that it's tiring and is not going to make it through the gap.

 QQQ 5 min

QQQ 10 min