Technology has been the best performer, AAPL has a large role in that. You can see this optically simply by looking at the NASDAQ 100.
So lets take a look at what technology is doing...
Without going in to intraday volatility, this 2 min chart is showing a deep leading negative divergence. Remember, they start on the short term timeframes, as the divergence worsens (or as distribution worsens), we look for the weakness on this chart to bleed in to the longer term charts and then after we see it in the long term charts, we return to the short term charts for timing.
The 15 min chart is already leading negative, note the change in character on the 15th (remember AAPL on the 15th).
On the 30 min chart we see the 15th pop up again and a leading negative divergence that has been in effect.
AAPL will of course effect this chart more then just about anything.
Is interest rates about to start going up?
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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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