Almost nobody looks at this chart… but it’s one of my favorite ways to spot when a move may be running on fumes.
This is a simple 60‑minute line chart of high yield vs SPY. I use it to track divergences between “smart money” (bonds) and “dumb money” (equities).
The last major signal was at the bottom, high yield quietly started putting in a higher low while stocks were still puking. That helped flag the turn.
Fast‑forward to now: $JNK and $HYG are not confirming this latest push in SPY. Stocks are pressing higher, high yield is stalling out.
That doesn’t guarantee a top, but when “Smart Money” refuses to play along, I take note.
Almost nobody looks at this chart… but it’s one of my favorite ways to spot when a move may be running on fumes.
This is a simple 60‑minute line chart of high yield vs SPY. I use it to track divergences between “smart money” (bonds) and “dumb money” (equities).
The last major… pic.twitter.com/12NWecmS3t
— Mike (@MarketMike) April 25, 2026
$QQQ is almost 50% above its 200 week MA. The last time that happened was in October and the weekly candle was above the threshold at the October top. Since 2009 the only prolonged period that it traded above the threshold was July 2020-January 2022. Something to keep in mind. pic.twitter.com/Js75AxMGlv
— CyclesFan (@CyclesFan) April 25, 2026
Big Picture View: On April 3rd (& weekly since) I warned #ES_F formed a massive 1 month bull flag, ready to break. April 7th it did & we rallied 550 points
Next week: Another bull flag built this week. 7180-7080. 7230, 7260, 7310 next targets. 7080 fails, retrace 7016, 6989 pic.twitter.com/MQRhNPZ0BK
— Adam Mancini (@AdamMancini4) April 25, 2026