It looks like the sharp upside reversal is likely what we are going to get, the IWM is up 1% and ther are a bunch of second day bullish reversal candles, however in to the close there are some 1 min charts not confirming, this is a short term timeframe that doesn't carry that much weight, but the market tends to pick up where these divergences left off. A day tomorrow somewhere in today's range adding to the divergences already put in today would be a signal I would trade for sure. For right now, I'm very comfortable with the 75% position in UPRO and 50% in FAS.
So I'll be patient for another day, especially with the IWM's move being so parabolic, however I think this is going to be a monster move on the upside if it gives us another couple of hours of divergences like we saw late today.
Otherwise, I'm comfortable with my risk level right here.
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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