As far as that "Chimney " in the reversal process, it looks like the market got a little extra help from HYG, but it wasn't enough to get the SPY arbitrage going, in fact the other two assets of the Arb, both VXX (short term VIX futures ) and TLT (20+ year Treasuries) went even more positive on a flight to safety trade, that looks to be probably one of the best entries for a SPXU or SQQQ (long).
I'll post the charts next. Lots more damage done today.
5 years ago
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