Tuesday, May 21, 2013

HYG, VXX, AAPL, QQQ

HYG made upside gains today, that's a positive arbitrage move for the SPY, around the time the market moved up, almost exactly, VXX moved down-also helping the SPY.

Right now HYG is showing worsening negative divergnces, I doubt it has much left in it today and beyond today it's in even worse shape.

VXX is pulling together with accumulation again and should pressure the market.

AAPL obviously helps the Q's, but they are looking like a mighty juicy short target, I'll try to get charts up ASAP, but they are falling apart on the 3C charts fast, this includes the SPY and IWM, although I think relatively speaking the IWM still has a slight edge over the others.

I think puts could be played, ETFs like SPXU (3x short SPY) or QID / SQQQ (2x and 3x short QQQ), but these I'd prefer more on a swing basis.


No comments: