RIMM 5 min has gone in to a leading negative divergence in a rather flat area of trade, often this is indicative of distribution (not just the divergence, but the flat trade.)
Even worse, the 10 min and it's making new lows today.
The 15 min as well with new lows today-all through a trading range.
The 30 min has just started leading negative
The 60 min should catch up as the 30 min gets stronger. Right now it's a little better then in line.
I would think there's some pretty decent distribution going on, the question is whether it leads to a deep pullback or a downtrend-the 60 min chart is the reason for my indecision.
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
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