Commodities are diverging intraday from the SPX...
High Yield Credit is also diverging intraday from the SPX
The $AUD is also diverging intraday from the SPX
As is High Yield Corporate Credit.
However on each of these breaks, they are getting nastier and nastier, I think our longer term charts have been right on...
DIA long term chart-2012
QQQ 4 hr. 2012
SPY 4 hr 2012
According to these, a move like today is really nothing, there's a lot of downside in these long term leading negative divergences, this is why I want to be a seller/short seller on price strength.
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