I'll just go straight to the S&P Futures, it really doesn't matter where I look, confirmation is almost always the exact same.
The 3C signals in ES tend to be a bit stronger than in the market averages for the same timeframe.
ES 1 min overnight and in to the open chart with the European open at the white vertical arrow, note the divergences when looking at the chart below.
Almost perfect swings between VWAP.
The one thing I keep coming back to is the fact we have very little short term strength on the ES charts and lots of weakness.
The 5 min ES 3C chart, leading negative, the red arrow is Friday regular hours.
30 min 3C ES with a deep leading negative divergence and the area I suspect was the actual pivot/top in the box.
a 60 min ES 3C chart, absolutely horrible, shows clearly the distribution process as large events by large funds are always a process, not an event, there' the process. Again the suspected top is highlighted.
The 4 hour chart showing the June 4th low and a process of distribution in to a leading negative divergence.
The double top scenario on a daily 3C/ES chart, it's pretty clear not only by the local negative divergence, but the leading negative divergence currently.
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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