The late day divergence I mentioned in part 1 of the last market update that seems to be there to push the market in to the close (how much effect Egan-Jones has I don't know), is on different timeframes in all of the averages, it does not show up at all in the Russell 2000 which I consider to be the most important average for the vitality of any risk on move.
On the DIA, the relative positive divergence appears out to the 5 min chart, however within the context of a larger and more powerful leading negative divergence.
On the QQQ chart it is out to 3 min, again it is a weaker relative positive divergence within a much larger and stronger leading negative divergence, or in other words, it does not improve the damage done today.
On the SPY it's on a 1 min intraday chart.
I'll be interested to see what they look like by the close as I can see the DIA one that is up on my charts now is already starting to come undone
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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