Context Model at -30 SPX Point differential- Daily Wrap Coming

Right now the Context ES model is 30 points below ES, the model is constructed using risk assets that normally rally together with the markets, like High Yield Credit, when there's a large divergence like this in the model, it means stocks are rallying, but other risk assets (like credit which is what the pros use) are not rallying and in fact may be selling off.

The general take away is that this has every hallmark of a knee-jerk reaction and one that's about 30 S&P points rich vs the model, considering the SPX gained just under 15 points today, the negative 30 points in the model suggest professional risk assets sold off on the F_E_D news.

The divergence is clearly at the F_O_M_C, which means, professional risk assets SOLD OFF ON THE F_O_M_C STATEMENT

It's little wonder we didn't see any confirmation in the averages.