At 2 a.m. last night ES and especially NQ futures had very clear positive divergences heading in to the European open, and then they took off with the carry trade in full effect earlier, but it's stalled a bit, not before getting the job done.
You can't see the positive divergence in ES from last night as it was from the US session close to 2 a.m., then 3 a.m. POW! There's a current negative divergence, but it is intraday-still some damage on the 5 min chart.
R2K futures were in line and moving up, they got an extra boost on the European open and are still in line, still holding 5 min chart damage
And NASDAQ futures that had the real strong positive divergence last night before the European open really took off.
The NDX and R2K are leading the pack, the DOW is trailing it.
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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