Head Fake

In a follow up to my last post, I was looking for a head fake shake out or a false breakdown considering that pattern was so obvious. So far, so good as far as this looking like a false breakdown or shakeout.

 DIA positive divergence on the breakdown.

 Same for the QQQ

And the SPY

They may take it lower to trap bears, but so far, it seems to be under accumulation and remember, as always, 80% of the time before a reversal, the last thing we see if a false move, we may have two today 1) below the daily bear flag and 2) below the intraday triangle; which is exactly what technical traders would be looking for.