CONTEXT/Credit/Commodities

Before I go (not really in a rush for this appointment) I saw this and thought you should see it.

 Earlier both the Context Model and ES were headed lower with ES leading, now the model is leading, meaning underlying risk assets are selling of t a faster pace then ES-this is bearish for ES.

 Here commodities hit a multi-day new low and are dislocated from the SPX

Furthermore Credit has sold off to a new multi-day low as well.

Credit leads the market, equities follow.