I warned this was a good possibility...
The bear flag that set up intraday gave price confirmation, volume went up as shorts entered on price confirmation, the trap was set. Now the SPY is above the levels I said to watch out for as they would create an intraday short squeeze of the new shorts, look at volume on the move up.
The market taking advantage of technical traders' predictability once again.
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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