As you just saw, 3C has had enough time to confirm a move out to the 5 min chart this a.m. on the RIMM chart, we didn't see that in the SPY, DIA, QQQ or IWM and now the 3 man pillar Industry groups are not confirming either, that's 6 indices and 18 timeframes and no confirmation of this move.
XLE Energy 1 min had a brief moment of confirmation which it has lost now
XLE, which looks the best, has no 2 min confirmation which should be easy by now, especially given the underlying geo-political risks.
XLE 5 min, no confirmation.
Financials look even worse leading negative in XLF on the 1 min.
And the 2 min
No confirmation in the 5 min, 3C should be making a much higher high for a confirmed move.
XLK-Technology is leading negative
The 2 min chart is worse
And the 5 min chart is even worse.
Something really is off in this market.
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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