Risk Assets

While I'm re-setting on of my feeds, I want to show you a little more information, risk assets are broadly being sold off, CONTEXT alone can tell you that or HYG yesterday.

 CONTEXT shows risk assets are selling off hard vs ES

Here High Yield Credit has been being sold the last  4 days aggressively-it's just not scaled very well.

the $AUD is sinking

The Euro is sinking-niether of which did anything for the market today, in fact they are implying the exact opposite, especially after the European GDPs.

HIO is showing a risk off sentiment

HYG credit has been sold very hard, CITI has confirmed it as well as posted earlier.

HYG really had nothing to do with the market moving today-it was the Yen weakness on a pullback as it is reversing as the dollar did.

Junk Credit also selling off

And the large $USD base reversed from the pullback and has broken out-these are major problems for the market, what looks like risk buying, is risk dumping, retail just doesn't get that and sees it as the opposite, but every other class of risk asset trader is doing the exact opposite.

TLT taking out stops as mentioned earlier. I'll have to check the accumulation that was starting there.

 VXX seeing demand even in to a rally move?

VXX also having support, it should be at a new low according to the SPX move

So everywhere we look, risk assets are being sold, protection or flight to safety are being bought, the only thing that separates all of this from being acceptable in our heads is market price movement, as I say though, price is deceptive, although if it were that easy, everyone would be a millionaire in the market so no one would be.


Is every other form of Credit, FX, futures, bonds and other traders wrong and retail equity right?

Be very careful with market linked long positions.