Levers

Just after a quick look, before I could even post the chart, I was going to show you that I thought IWM +<$98.52 would be an important area to hit before anything turns.

Quickly, TLT just dipped below yesterday's lows and is now starting to find 3C support-this is why I was saying earlier there may be a position there as some of you seem interested in TLT, but to wait for the charts to go positive, that is happening now.

HYG spent enough time accumulating that it should have been able to make at least a $1 move, instead on the start of its move yesterday it was quickly sold, you saw what CITI said about HYG this morning as well, confirming the signals we've been getting.

I'm very surprised HYG hasn't done better with the accumulation it has in place, but so far today it hasn't been able to make a higher high. It would be interesting to see if it could break out again and then what happens, if the same as yesterday-almost immediate distribution?

VXX is seeing accumulation and moving higher as well, this should start to flip the SPY Arbitrage somewhat and probably has something to do with the building negative divergences in the averages and Index Futures.

Keep an eye on AAPL still, it has made a stop run below the range, so that's a possible head fake area to start a bounce from as the rANGE TODAY WAS VERY DEFINED AN OBVIOUS,stops would have been right under the range.

The most interesting thing is if HYG fails and doesn't allow whoever accumulated a decent (bounce-size) position, they'll be out of that money, again the same exact thing happened to AAPL, there was an accumulated position, Dan Loeb's 10Q came out and all heck broke lose.