Same in the SPY

 1 min is showing a weak positive intraday, enough to move SPY intraday, but after that...

It has been distribution.

The DIA is similar to the SPY, but the IWM and QQQ barely show anything positive anywhere, it looks like those are simply being sold.


On the last move-and it's getting hard to say which will be the last-the AAPL theory or this move today, HYG will help out, 1-5 min are positive-from 10 min on, where it really counts, HYG is negative.

TLT is accumulating, it's a bit choppier in the fastest timeframes, but clear and smooth on the long timeframes that represent the heaviest trend so in faster timeframes there are adjustments, perhaps to keep TLT in a range, but the net effect is a strong underlying trend.

The exact same is true for VXX (VIX futures), choppy in the earliest / fastest timeframes,, the longer you go out, the clearer and stronger the trend of accumulation is.