This is exactly what I said was most likely on the open last night in the Daily Wrap, I even posted the chart that made me think that and why it wasn't a threat, check it out-I used the SPY as an example for the market. So no surprises, also no threat.
This is the 1 min positive I posted last night and said early strength off this divergence, but..
There's no confirmation at 3 min so it's not much of a worry, more intraday jiggles thus far.
The bigger concern for longs is the 15 min chart which really means something.
The next charts of the IWM and QQQ show the same short and longer or more important view.
IWM 1 min-already failing from yesterday's late afternoon positive
IWM 10 min
QQQ 1 min already failing
QQQ 10 min leading negative
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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