MORE EVIDENCE WE ARE ON THE RIGHT TRACK

And one of the reasons I didn't trust this market enough to ride a piggy back long. The market lever HYG accumulated all week and used today to lead the averages higher even before the F_O_M_C, but now that HYG has done its job, initial distribution has increased, as I said, smart money doesn't want to be sitting long HYG when the music stops for lack of a chair to sit in.


THIS IS EVIDENCE OF MIGRATION OF A DIVEGRENCE-DISTRIBUTION. HYG which has been accumulated right up until yesterday's close and all of this week is now under distribution and this is one of the market's KEY ramping levers. Smart money is closing the ramping position that led to HYG leading the market higher today even before the F_O_M_C. I'll look at the rest as soon as possible. This is EXACTLY why I don't trust this market for even a short term piggy back long.

 1 min intraday

2 min relative negative

3 min leading negative intraday

And now even a 5 min relative negative so soon after the F_O_M_C