Thursday Divergence

The SMH was an impressive leader today, although after hours it has given up all the day's gains plus some. The same story holds for the financials in the form of XLF which trended up all day and then gave back all the gains at the close.
The NYAD was solidly upslope 30 % after the first 30 minutes of today's session, rising all the way from a bearish .22 to a decidedly bullish value of 1.83 at the close with no fade evident in the last 60 minutes . . typically a sign of impending reversal.
Of some concern is the divergence of the 4Vs and the majors. As we have experienced in the past, bullish closings of the 4Vs and the majors are typically resolved in favor of the Vs = bearish for the majors. I would have thought the bulls path was clear at this point after the positive skew of earnings reports, but exigent factors can swing the markets quickly and that be happening now.

Of note: Turns out at least 2 dozen senior officials (attorneys, accountants, etc. earning $ 100-220K annually) at the SEC that were supposed to be keeping democracy (and our brokerage accounts) safe have been logging huge hours on their SEC computers watching porn instead. The real pornography is the crap guys like Madoff and Drier pulled off while these numbnuts were comatose with visions of sugarplums in their heads (some were females).