If you look the first few sessions of 2012, you can see that HYG topped on the first trading day of the year. The es has continued higher over the past week but is slightly divergent from HYG. MACD D crossed over on the 6th of January on the Daily. A break below 88.75 would confirm. I'm begininng to think that the ES will be weak here and it may start to reverse. Any pop higher in the ES toward 1300 I will be shorting. Stochastics on the daily ES have crossed over and look like they could roll lower. Your thoughts and comments appreciated.