The EUR/USD pair fell pretty much all night, typically not good for risk, but we can't forget today is an op-ex day so the pin will likely be in, yes, even on the weeklies now.
The USD/JPY carry pair also fell quite severely after coming within .50 of Kuroda's $100 target.
However there are some opening positive divergences forming there.
The real culprit behind both risk pairs falling and sending futures lower overnight may indeed be their partners, the $USD...
USDX 1 min gaining ground
And the longer term USDX 4 hour chart (each bar=4 hours) had pulled back in yellow from its uptrend, it appears that pullback is now over.
The overnight result anyway...
Here's NQ first because last night I looked at every timeframe here, 1m, 5m, 15m, 30m, 60m, 4hr and 1-day, all leading negative. I don't recall ever seeing that ll the way through and the longer the timeframe, the stronger the signal, if a 5 min negative can move the market on a short swing, imagine what a 30, 60 or 4 hour can do.
NQ 5 min
NQ 60 min- all leading negative badly, but there is a pre-market 1 min positive in NQ.
ES 1 min, the green area is yesterday's close at 4 pm is in line this am
Here's the ES 60 min chart, look how sharp and deep that leading negative divergence is and on a 60 min chart.
TF 1 min (green is the close at 4 pm) with a positive divergence in to the open.
Here's a 15 min chart example in the R2K futures, leading negative badly, these are all over the place.
I say, "When 3C charts jump off the page, don't ignore them" These are the charts I don't ignore.
Is interest rates about to start going up?
-
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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