The 5 min charts are suggesting a pullback as I've felt for a good portion of the day. The test of the day's highs failed, but not before posting a marginally higher high, which is very typical as most of you know before any reversal. It's looking like tomorrow we will likely see a pullback and hopefully a strong consolidation.
Here are my initial thoughts on targets for a pullback.
DIA 15 min chart with a 50-bar moving average
QQQ with the same as above
SPY, same chart as the two above.
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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