I Never Trust Parabolic Moves

Especially this early in the day.

For example...

You can see the last parabolic moon shot didn't end well for the Euro.

 Here's the ES Futures chart.

 Here's the IWM is an Ascending Wedge, which is supposed to break down, but we almost always see them break up first before breaking down as this has done.

 The same Bearish Ascending Wedge in the QQQ has broken up first as usual for the pattern now-a-days.

 The QQQ 1 min in a much more severe negative divergence then the one that sent Friday's early morning highs down.

 The same with the 2 min.

 SPY 1 min is similar to the negative divergence that sent the market down from the Friday a.m. highs.

As is the 2 min.

Plus in general, I don't trust parabolic moves, and parabolic moves this early in the day, even less so.