Bifurcation Continues

Hello All,

Big reversal in the indices today after the gap up that was quickly faded to red before then sparking a huge rally midday for the Q’s to go on and close at new ATHs and Spooz not too far behind either with both the Dow and IWM still remaining to be laggards as breadth has been quite poor these last few weeks.

The 10Y meanwhile has continued to …