Thursday, February 7, 2013

Market Update

I'm getting the feeling we are VERY fragile here, more so than I thought earlier.

We are seeing negative 1 min divergences, there are still positive 2, 3 and in some places 5 min, but it's feeling fragile.

The one thing that still has some positive aspect is HY credit, it is also a bit weaker in near term 2 min or so charts, but 5 min , even 15 min seem to tell the story that there will be a much stronger move still on the way. I'm trying to figure out what comes between the actionable right now and the promise, so to speak, of something more extreme and I'm not getting a lot of flashing lights.

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