I'm not liking the looks of these charts.
DIA
QQQ
SPY 1 min
SPY 5 min.
So far the 5 min charts aren't looking as bad, the charts in XLF, XLE, and XLK are all showing some negative divergences as well.
This is why I would have preferred a base yesterday, right now any pullback is difficult as it would most likely need to hold the breakout levels as to not look like or actually be a false breakout.
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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