It looks that way...
Here's the daily head fake above local resistance
On the intraday chart we have a nice little bullish continuation triangle, a breakout here would lead longs in to the market and set a nice bull trap.
And the SPY in 10 min Bollinger Bands, notice how they are getting tight, implying a directional move. Even the presence of this triangle will get bulls to buy.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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