The SPY is right at resistance of the upper trendlne of the triangle. There aren't any obvious negative divergences in the SPY, but the Q's are getting a little close. The Tick Chart hasn't broken the up channel, but it's starting to see some bigger downside bars.
This could be a defining moment, especially if we get a strong push through resistance with volume picking up, otherwise, while slanted, the H&S pattern would still apply.
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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