The QQQ already saw one, note the difference in volume between the Q's and the DIA and SPY, the Q's are higher as they moved above resistance (likely head fake move) and that drew in the buyers, if the SPY which is close and the DIA (also close) can put together the same moves, I'd really like to be taking profits up there, but that can also set us up for a fast moving failed move quick.
DIA daily and resistance
QQQ daily broke through resistance and triggered orders. Look at today's volume vs. Monday's and the same in the DIA/SPY.
This is the head fake up on a 1 min QQQ chart, the head fake is sealed on a move back down as that is what traps longs.
The daily SPY actually broke above by 1 penny, not enough to trigger orders though.
A head fake move in all 3 would be ideal for a reversal.
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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