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Sunday, November 16, 2014
Nov 16 - Market correction upcoming?
HYG tends to lead intermediate up and down moves recently. It has been showing considerable weakness last few days with stronger volume. As SPY/ HYG divergence intensifies, i.e. lower high in HYG and higher high in SPY, very possible the market pulls back some.
SPY 1 yr frame looks like we are exhausting here and I am leaning towards some sort of consolidation for a few weeks before going higher.