There is still remarkably VERY little movement in a lot of short term 3C charts (think the IWM which was nearly perfectly in line as well as the 1 min intraday ES chart), the TICK is in an incredibly narrow range, but one thing I see, that isn't quite making sense is the GLD and USO short term charts.
GLD 1-3 min looks like it's going to make a move, the signals aren't strong enough for me to take a trade like AAPL yesterday and by 5 min there's not much, 10 min negative. USO also has signals that are positive in the 1, 2, 3 maybe even 5 min positive. This suggests to me a move down in the $USD, but short term as these are short term signals.
The only problem is EUR/USD isn't helping identify any FX move, and the single currency futures look negative for the Euro and positive for the $USD. I'm not sure how to take this, perhaps if GLD/USO move and the EUR/USD contradict it and signals go negative, any upside move can be faded. I would think a $USD move wouldn't come until the F_O_M_C so maybe it's part of a knee jerk reaction initially.
This is how hard it is to find any real movement, it looks like the market is VERY unsure of what Bernie will say
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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