DIA with a parabolic curve, I'm not a fan of parabolic moves in either direction unless I'm taking profits in to them quickly, as we have seen time and again, they don't usually end well. In any case, the curve downside came after what looked like pretty much market wide churning.
The DIA still hasn't confirmed price on the fastest chart, confirmation would see the yellow line up around the yellow arrow, this leaves the DIA still leading negative in to this move, suggesting it has been used to sell in to, thus the reason you see the churning type volume.
A closer view of the DIA 1 min intraday, it went negative before noon time and lost ground, it also went negative in to the churning.
As I mentioned earlier, despite price percentage gain, the IWM's underlying trade has looked the worst, right now the IWM is sitting on some intraday support.
IWM longer term 1 min trend with today leading negative and moving lower.
A closer view of the IWM intraday same chart.
QQQ hasn't been able to confirm either. again suggesting selling in to the ramp up.
SPY also hasn't been able to confirm
Intraday in to the churning area...
Interestingly, what Bernie started this morning has been re-interpretted by none other then JPM. Apparently Bernie was just ambiguous enough to allow market participants to interpret what he said in their own light, reminiscent of "Greenspeak".
More on that later...
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