Here's a broad based afternoon pullback today.
Note the 3 positive divergences in the DIA, 2 relative divergences and a leading upside.
No such support in the IWM
And scarcely a bit more in the Q's, but nowhere near the same as the DIA or SPY.
Here the SPY has the same 3 positive divergences, I didn't draw in the first relative divergence from 2 p.m. to the lows, there's also a second at the test of the lows between 3:10 and 3:30 and a leading positive.
If you are using ETFs to trade short term moves, you might move out of the QQQ longs and into something like UDOW or UPRO, perhaps even FAZ. These are very short term trades, intraday to a day, maybe 2.
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
No comments:
Post a Comment