Best Way to Visually Describe the Temp
Image a horse race with five runners at any one time. The runners could be either TIP, JNK, IEF or LQD. If all five of the animals on the track are IEF then the temp is -200 (dead of winter) and if all five are JNK then +200 (glorious growth spring).
Any LQD or TIP animal is worth 0 degrees.
The current running order, starting from shortest to longest duration, is IEF, IEF, IEF, IEF, LQD. = -160.
Now two very interesting things are happening simultaneously: LQD could shortly be replace by IEF = -200, the coldest of winter.
...but
The shortest duration IEF is threatened to be replaced by JNK. Assuming that happens the temp of -160 would rise to -120.
Another possibility would be for JNK to catch IEF, but have LQD hold on, that would raise the temp to -80, pushing the markets back to fall. As soon as the temp changes I'll let you know.
