Today's flat intraday trade reminds me of an op-ex pin, but I'm not sure that's what it is, take a look at the QQQ chart...
This is a perfect symmetrical triangle, traders expect it to break to the downside so the market can catch quite a few off guard with an upside breakout, it may be the formation of these triangles in the averages causing the flat trade and you know what I say about flat trade, "It's like the kids in the other room being way too quiet", you know something is up.
During that flat trade, in addition to the volatility indicators moving the right way (I still have to check leading indicators), the 3C positive divergence is there and out to 10 min charts on the Q's.
Look at this flying positive divergence on the DIA 2 min, also w/ positives out to 10 min, maybe even 15 min intraday.
IWM 1 min leading positive, this has the weakest positive divergences, but the IWM already did what it had to do, it already broke that resistance range.
SPY 1 min leading positive and out to about the 5 min which is respectable for a short term move.
ES futures are looking very strong intraday as well.
Leading indicators next, let's see what they have to say.
If we don't see much movement today then it probably i an op-ex pin on the weeklies which makes Friday's the most boring days with these weeklies, but I'm sure there's a way we can take advantage of it.
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