The probability of this recent move at 2 p.m. being a false breakout looks pretty high. False breakouts tend to move the other way (down) pretty quick when they fail ( meaning below the support trendline).
DIA 3C still negatively divergent and not confirming the move.
Same with the QQQQ
Here's the Q's resistance level taken out by the move up, a move below that will create a false breakout and most likely a swift move down. Note the volume did not expand on te breakout.
SPY negative divergence
SPY false breakout? Both volume and 3C tend to lean that way. A break below (maybe you should set some alerts at the support level) could be a decent quick short trade using a leveraged ETF.
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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