DIA 1 min
DIA 5 min in a leading negative divergence
QQQ 1 min
QQQ 5 min in a leading negative divergence
SPY 1 min
SPY 5 min in a leading negative divergence.
It's still very early and lunch hour on Wall Street, but between the 5 min charts, the lateral price movement in the averages and deteriorating breadth, this is eerily reminiscent of Friday's action in which we saw almost the exact same thing. I noted on Friday it was my belief (because of the deterioration and persistent lateral trend) that they were going short on Friday, Monday we found out why.
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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