This isn't a buy signal, but I'm finally seeing leading indicators coming alive. VXX is underperforming, HYG is out-performing, sentiment indicators are a step away from outperforming and their character has changed significantly and HY credit is starting to out perform.
Also I'm seeing those intraday positive divergences starting to pop up in the various averages as well as HYG, so far SPY/UPRO looks the best, it's not there yet, but if I'm correct in my thinking that this will be a fast reversal, we may be entering positions soon, as in today.
Today definitely feels a lot more like a day in which I am not going to be able to leave the computer screen even for a glass of water.
I'll keep you up to speed....
5 years ago
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