I didn't like this move from the start even though that is what we were looking for today or in the very near term, but it just didn't do the work.
Here's some charts now that seem to confirm my original gut feeling, I think this move is going to give it all up and maybe then it can do it right.
DIA 1 min negative
2 min never saw any strength migrate to the chart, stayed negative
IWM 1 min leading negative
QQQ 1 min REALLY leading negative
QQQ 2 min also no strength migrated over, leading negative even at the highs.
SPY 1 min leading negative
TICK isn't going along
The Intraday Momentum Screen is negative in every window.
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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