Look at the IWM right now intraday, that's what a short squeeze looks like and it seems our F_E_D speakers today were helpful in getting that started.
No pullbacks of any significance, a near diagonal line, very indicative of a short squeeze which are often on lower volume than you might think.
The IWM is still coming up to gap resistance though.
There was definite improvement intraday, .but I don't think it will be enough in the short term, I think the plan will still likely be the same.
Take the SPY.
SPY improved on the intraday 1 min right near intraday lows.
The 2 min is now in line, but...
The 3 min hasn't turned down yet and completed the pivot, but I think it probably will.
I think the intraday charts in HYG suggest this is a higher probability.
So if I'm trading very nimbly in and out of positions, I think there will be a pivot in which a lot of positions become excellent entries and some perhaps like the IWM if you are trading it on short term options, will likely be in a good place to close them on the momentum.
There are several others that look like they will be interesting candidates, I already suspect they are, but would like to see a little more confirmation.
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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