As mentioned in a previous update, the SPY was moving to test resistance, I said I wanted to see volume pick up and look at volume as it broke through resistance.
Here's the 5 min chart to give you a better look at volume.
I also mentioned that the other averages (in the WM post) were getting in line starting with the 1 min charts, this one is in line
The 5 min chart is nearly headed vertical, so it's trying hard.
The same with the 10 min chart, note also the stage of accumulation, confirmation, a consolidation and apparently it looks like it's trying to jump back into confirmation on a new local price high
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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