CONTEXT

Last week the assets that should rally with ES that make up the CONTEXT model, kept slipping further and further way from ES (ES overvalued, the ES model trading lower), as we start the week, the CONTEXT model is looking even worse. This seems to be more confirmation that traders in other markets than stocks are not feeling very confident in this move from last week.

CONTEXT hitting a lower low on the histogram today as the model diverges from ES even more.