ES is easy to show the EOD ramp which locks longs in.
We already saw the earlier positive divergences (intraday accumulation) and the last ES update we saw a new leading negative low, since then it went even deeper. At the green arrow this IS NOT a positive divergence, it is simple 3C confirmation as both 3C and ES made a higher low, however that move was within a very deep leading negative divergence. I wouldn't feel very good about being long the market right now or ES for that matter.
It could be a long night for the S&P futures.
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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