It's kind of ironic, well actually not that ironic as the pattern was almost complete), that I was just posting what it would take to make that triangle an effective bear trap which I'm definitely posting too early to call it that as it hasn't completed a bear trap, but there are a few things worth seeing as they happen, here are just a few so far.
Note how volume starts to pick up as soon as the support trend line of the bottom of the triangle is broken, but it's not until the intraday lows are broken that orders are hit and volume soars.
So now we let that play out a bit and see what the underlying action is.
The leading indicators that I was busy putting together right when my alert went off are actually kind of interesting too, I'll be positing those next.
Here's the TICK on the break, for such a big break and high volume, the TICK reading didn't even hit -1000 when it has been trading all day around the +1000 level.
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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