It's not just TLT/HYG...

This is just another example of the same EXACT timeframes in another RISK asset, the SPY.

This I very much doubt, is a coincidence.

 SPY 1 min has no positive divergence before the move up- this tells me smart money wasn't accumulating, this is a simple, AS EXPECTED & WARNED a KNEE JERK REACTION FROM RETAIL.

 At 2 min there's a negative divergence in this morning's SPY run.

At the first institutional timeframe of 5 min, we have a leading negative divergence, nothing at all suggesting smart money is active in accumulation, in fact just the opposite, but they did it in advance. Remember Bernie is said to have leaked the minutes to Issa.