HYG moving up is risk positive for the market, that's why I've been paying so much attention to its positive divergence and the fact that it hasn't been a large position divergence, but a manipulation-move divergence, this is what was discussed yesterday as I already posted about HYG driving the market, but watch for HYG to be cut off prematurely.
TLT and VXX moving up are both risk negative and create market headwinds, while its still very early, first HYG started to go negative so now it is sideways and no longer up, then VXX came in strong, now TLT is following.
This all comes back to what I've said a few times the last week,
"Wall Street isn't going to make it easy, they don't want shorts with them, they want to shake them loose. Wall St. makes their money by retail chasing, not by retail moving with them"
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