ES is certainly going negative here, it is now in a very clear leading negative divergence. Along with ES, the SPY is going negative in 3C, intraday the 1 and 2 min charts are negative, but the 3 min chart's overall position is worrisome for the SPY both intraday and longer.
I'd have to say the DIA is pretty much in line, it really doesn't look that bad.
The Q's are largely in line intraday, but just like I mentioned the other day with some 10 or 15 min charts being the only ones that were negative and the following day we saw the real downside those charts picked up on, the Q's have the same type of thing were distribution is being caught at very specific time that are being caught on charts like the 2 and 5 min.
NASDAQ futures still look to be in line intraday.
The IWM is showing negative divergences through a range of intraday through medium term (5-10-15 min) charts.
I'm going to check some of the breadth and leading indicators.
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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