Friday, November 21, 2014

HYG's Reward

Below is a chart of HYG and the area with a positive divegrence I was concerned about and wrote about 3 times yesterday...

Clearly from the divergence , which appeared to be market intraday support,  this trade like all others, was set up in advance, this is not smart money chasing and driving prices higher as Technical traders think, this is the reward of the accumulation of HYG, it should start to go negative intraday as they cash out the position, which if it does sharply, WILL MAKE A STRONGER ARGUMENT FOR A POSSIBLE 1-DAY KEY REVERSAL OF EPIC PROPORTIONS, KBUT THAT WOULD BE IN LINE WITH EVERYTHING ELSE FROM THE OVERDONE MOVE TO THE MACRO INDICATIONS.

No comments: