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.


Declan Fallon said...

What does the relative relationship of HYG:SPY look like on a chart>

Greenlander said...

Hey Declan,
I just posted a HYG: SPY chart today. I find it easier to spot the negative divergence on the HYG with the SPY underlaid. But this HYG: SPY is not bad for turning points at bottoms

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I have been stopped out twice in last few weeks trying to short GLD.  I have a pretty sizeable position of Nov/ Dec GLD/ GDX puts. Also ha...