All of the other averages have had that distinction all day, some even longer like the IWM, but the Q's which were the furthest away and seemed to get some recent support to help out, just made the break and there's some interesting breadth plus some of the usual stuff that you should be aware of.
Longer term daily chart, I'm not even going to get in to the H&S looking pattern, I'm just pointing out the trendline target.
Here it is intraday just a few minutes ago on a 1 min chart, note volume, which is something you want to watch for-where orders hit, were stops hit, was it useful for Wall Street in creating demand?
The actual TICK chart popped to just about +1000, a decent reading, but moderate for a move like that, then it came right back down (TICK).
The TICK today vs the SPY seems pretty thin in breadth, there's barely anything above +1000, normally we'd be seeing +1250 and +1500 spikes. At each higher high in the SPY, the TICK is failing to follow.
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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