SML v SPX
in the healthy bull period, when the $spx was not so narrow, the scouts ($SML) led the way for the generals
while this drift of bull signal is not a timing thing it's definitely a signal to keep in mind when looking at context, where to start, tops can be drawn out, there's an election coming in the US, the market decides who wins n who loses, given the above tweet, given the lack of funds into the local market and the lack of follow-thru locally, clearly a lot of deep pockets are shtum on placing capital, while the aussie buck went to "cheap" plenty of liquidity came in an pushed up the locals but now the buck is firming the question you have to ask is how aggressive is the buying versus selling, not very, as per the Twiggs 13 week money flow, caution means stagnancy in liquidity flows, not much on the sell side not much on the bid side until the binary is out of the way and the coming volatility spike(s) done
https://www.tradingview.com/x/dDdUgi5y/
cash printed 6126 implied cash cmc closed 6073 bulls will want to see that pop at mondays open
$dax sits in middle of a major upchannel so i wouldnt bet on that
the side channel in the $xjo implied cash has held, just, structure still leans for the bulls, just, keeping bets small at this point,
($PA) palladium is looking best bet for a downside break-out and there's a clear correlation with $xauusd there on a weekly basis for structure
here's $sml v $spx ...a decade of leadership, ... it made a weekly divergent lower high relative to the $spx, then, post rip south, it has dragged relative to the $spx upto this weeks long tail, while the $spx seeks new altime the $sml has printed another lower weekly low ... #observation