Intraday Update – High Yield Credit Divergence

2:26 p.m. ET Mega-caps continue to lead the market higher in holiday diminishing volume. Small Caps are starting to display relative weakness for the recent rebound off last Monday’s short-term oversold lows, although I still suspect Small Caps tag the 100/200-day sma’s just above that they’ve come within 0.4% of before this leg is finished….