HYG and VXX Update

I believe I still have a UVXY (VXX leveraged) position, I'm happy to keep it.

HYG longer term is destroyed, the longer term charts have shown it happening and then price collapsed.

There was enough accumulation though this week for HYG to head higher, it single-handedlly lift the market yesterday, but as I suspected, was immediately sold off, this means some institutional longs still have long shares there that need to be sold, I think HYG under normal circumstances could and would move higher, which would likely help the market, although the Yen will have more to say about that.

On the other hand, what I wanted to see with the HYG accumulation was whether or not it was sold on any strength and yesterday it was, immediately.

VXX can block HYG to some extent, depending on what TLT is doing and now we know even more so depending on what the Yen is doing.

Here's what both look like, I have no problem holding VXX/UVXY long.

 There's a lot to see on this HYG 5 min chart, most makes perfect sense, the 5 min recent accumulation though is the one that didn't rise as high as it should have as it lifted the market immediately off the open and then was sold the rest of the day, for the market's part, it held its ground, but didn't add anything from the early HYG push.

The HYG 10 min chart shows there's nothing beyond 5 min, it looks like it was set up as a counter trend bounce to get out of some remaining positions at better prices.

However as the 1 min chart shows, as soon as there was any price strength in HYG yesterday, as I posted the day before (I suspected it would be sold prematurely), it was immediately sold.

 The 2 min chart is migrating the same way, but until the migration hits the 5 min chart, I'll be keeping an eye on HYG.

VXX 1 min leading positive trend

2 min

3 min-at this point we have good migration (health of the divergence)

5 min just to compare to HYG at the same timeframe.