Here's the SPY and QQQ
A small pos. divergence around 1:30 in the Q's on a 1 min chart.
And the same for the SPY on a 1 min chart. Nothing big, it could just be normal market jiggles or an attempt to keep the market higher or at least above the breakout level until the FOMC announcement. The one logical reasons for this is that the IWM hasn't made it to the "new breakout high" above local resistance. It also looks stronger today then all of the others, so my guess is that the IWM will try to follow in the footsteps of the other major averages.
IWM daily chart, close, but not at the breakout high.
This is by far the strongest 1 min 3C chart of all the averages. Even the accumulation period seen in the SPY, QQQ is far stronger in the IWM and there's been no negative divergences like the others saw earlier.
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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