As I showed in the last post, HYG which has been an exceptional lever today (wait to you see currencies) looked like it was going to back off, enough is enough on the risk there and it has.
The divergences I showed you earlier in the SPY and IWM, well they have went positive on the SPY in the 2 min timeframe, still negative in all the others and TLT looks like it's not helping either. If you look at the SPY price action, you'll notice it looks a little strange and volume is surging, I can't help but wonder if they haven't just resorted to finally breaking down and buying the SPY to try to force it higher?
Take a look for yourself.
Note how strange price action looks, no pullbacks at all, solid volume.
Futures Update BR-EXIT Edition
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So the conventional wisdom couldn't have been more wrong. Those chasing
risk and closing hedges couldn't be in a worse place right now. I would
still remin...
8 years ago
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