The Cumulative Tick was negative while the small caps were non directional.
On the Futures, we could see much weakness on the NQ100 yesterday.
This weakness propagated to the QQQ, but not to the SPY, except for a final minute LEV selling bar.
Treasuries still attracted money together with the Yen, which seems stronger than the drop might us think. This tells us that the carry trade that was used to buy the QQQ's is now being unwound.
Conclusions:
Investors still want to be long ahead of the tax deal vote, but then what?? I believe that after the vote passes, there could be selling propagation from the NQ8/NQ100 to the whole S&P500.
