HYG Charts

Remember that HYG is a necessary component in the SPY arbitrage to support the market, HYG up with VXX and TLT down is a positive SPY arbitrage the algos will buy.

Since HYG doesn't have the kind of beta necessary for me to take the chance, I need leverage, for institutional money they have huge leverage on HYG and it is huge liquidity. Since 2008 banks have been selling their credit exposure so for any decent size hedge fund looking to put on a credit position with some diversification, it's almost impossible to find the assets as the banks have been wiping them off their books, along comes HYG, the institutional trader's "Risk on" position of choice and a very easy way to express a position in credit with some diversification in Corp. Credit without looking for enough bonds with 10 different corporations and HYG is SUPER liquid.

I entered now because we are close to the hour when the market moves outside the op-ex pin with most contracts closed and HYG's range has been attractive, I'd rather buy on a break below that range, but I don't have the time-maybe I can add.

 2 min- this is enough to keep this range in place

5 min positive looks like heavier flows and I doubt they are retail

15 min again, same thing, but the longer charts or even these show HYG is damaged beyond repair, this is a fast bounce trade, hit and run, in and out.