CREDIT/RISK INDICATORS

So far so good, the dislocations that have made for excellent entry points are still there and most are worse.

Commodities are up a bit with the Euro, but still lagging equities significantly.

 The Financial momentum indicator is a picture perfect example of a divergence or in the vernacular of these indicators, a perfect dislocation. The S&P is double the XLF as of right now and looking very parabolic/wedgey. This is why I saved room to add at higher prices yesterday.

 High Yield Credit which is one of the stronger indicators is dislocated and getting worse.

Rates have moved up a bit, but they are still dislocated, nowhere near yesterday's pre-sell-off levels.

This is what I want to see for entering shorts on market strength.