First off, ES has hit another new low. This is VERY strange, 3C on ES usually tracks very well and divergences respond well, I have never seen ES lead like this for so long.
Here's a quick look at the major averages, I want to get industry groups up next.
I want to show you the zoomed out versions too, I'm just pinched for time so here's today as the market has hit a sort of double top, resistance and I suspect it has been selling and heavy at that. This is the DIA 1 min leading strongly negative
DIA 5 min the same
Even 15 min leading in a single day which usually takes more time
IWM has been falling off in this parabolic move which I called earlier today, "Dangerous looking", like picking up pennies in front of a steam roller.
IWM 5 min leading negative strongly, plus the IWM couldn't even make the second part of a double top today.
QQQ 5 min leading negative strongly.
On the 15 min chart as well.
SPY 2 min, not much to say that the chart doesn't
SPY 5 min as well.
I'm going to try to get up the 3 industry groups.
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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