This is what I've been talking about the last 3 days and it's a great set up thus far.
The bullish ascending triangle undoubtedly helped give the Q's a lift through resistance as we can see on this 5 min chart, now we are where I'd like to be and can start looking for the signal of the head fake/reversal. I think the Q's will stay strong until the Dow catches up.
The DIA breaks the bear flag, which draws in shorts, a move above the bear flag will encourage short covering, giving the DOW a boost, resistance isn't far off around $127.20
Here's the 3C break of the flag (1 min.)
And the 10 min chart remans strong enough to make the move through resistance.
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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