The DIA just entered into its triangle today, which didn't last long. There's a slight negative divergence from earlier, but for the most part trade is inline with 3C.
QQQ looks the most benign of all the averages, there's a very minor relative positive divergence.
SLV is also trading inline
The SPY showed a bit of distribution right before the Philly Fed, coincidence? IDK. The SPY is trading in line which is not overtly bearish or at least not anymore bearish then what we see in price itself as far as underlying conditions.
USO showed an earlier negative divergence but is now inline.
My take on all of the inline charts, the day is still early. However, because of OPEX tomorrow, we may not see a strong breakout move today as the calls that have the highest open interest at last loo , were in the breakout area. Those calls are likely to be pinned.
No comments:
Post a Comment