Right now VXX is going negative intraday and TICK is improving.
Yesterday's divergences as a bounce divergence were some of the weakest I have seen in I don't know how long, but the fact the SPY still holds them seems to mean they are still planning for that move despite more fundamental (non-discounted) Chinese default news overnight.
The Q's look ok, not as good as the SPY, but better than the IWM.
I'm keeping an eye on it, but I wouldn't have entered a BIDU call if I didn't think they could effect a bounce. We have a little less than a week before a probable Chinese Trust failure so now's the time to try to pull a bounce off, thus also the reason for taking some off the table in IWM puts.
HYG is out of the game, no help there, but the VXX chart is revealing taken with the SPY charts holding up.
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