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Price action is bullish, ES 3755 is main pivot that I am looking at. need to see price trade below to go full bear at it again, for now bulls are holding on.
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My comments are for entertainment/educational purpose only. NOT a trade advice.
I have said it " No Fear No Bear" ViX indicates fear is lurking since mid December, be cautious. The reject on SPX:VIX ratio is clear but overall price action were keeping on push up. not a full blow bullish.
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Note $TNX at 10.71 (1.071% yield on the 10yr)
The “experts” have been telling us for months that when TNX hits 1% there will be armageddon in treasurys that will spill over to equities
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
ccash04 wrote:Interestingly, between yesterday and today LQD (investment grade corp. bonds) are down while SPY is up - really last week or so.
Typically this portends trouble ahead or at least a pullback not up up and away.
look at HYG MACD, suggesting sideways to down also but it doesn't. this time is really different
Agreed, it really is different, JNK/HYG really correlate better with IWM in my mind and LQD with SPY/SPX given the composition of the indices and their credit ratings. Either way credit for both are not flashing buy buy buy rather meh or tightening conditions.
All that said there is a backstop with Fed having a fire hose of liquidity everyday so maybe it is different
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