More Market Strangeness

Right now, sentiment indicators have gone positive in to the late afternoon.

What is also interesting is the last time HY Credit went positive was last week before Friday's pop, now HY Credit is clearly going negative.

We have contradictory signals and a rather strange day on the whole, HYG is again being used as an arbitrage asset along with VXX and TLT, in other words, they need to manipulate the market to keep it where it is, the SPY arbitrage has been on almost all day, HYG has been all day.

While I trust the sentiment indicators, I also trust the HY Credit.

The last time HY Credit was positive I noted it, it was during lmid last week's foggy market, now it is clearly negative.

The market isn't standing on its own, the SPY arb being used at +60 all day just to hold a Doji isn't a very impressive market, however something definitely feels on edge just like those quiet markets I warn about.