I'll use the SPY as an example for the intraday update as all of the averages look the same here except the QQQ, which has a 2 min chart that is leading negative instead of slightly negative.
SPY 1 min intraday was in line to the left, a slight leading positive divergence intraday as reported earlier in Index Futures, however...
The 1 min chart, same as above, zoomed out to the nearby trend shows the SPY is far from a positive position beyond an intraday jiggle here, what may appear to be a positive divergence to some at the green arrow is just inline as you'll notice there's a higher low in price.
The 2 min intraday is slightly lagging/negative so all in all, not a very strong intraday move and the other averages look the same, except the Q's which have a leading negative 2 min chart.
Momentum indicators for the 1 min chart also don't look good.
Is interest rates about to start going up?
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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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