More Evidence, More Confussion

For now, I still like how AAPL looks and FSLR, they will stay open.

There are a series of different divergences on similar timeframes, it's hard to tell if they are meant for a 1 hour trade or a 15 min pop or a few days.

For example, as of right now the way it looks, I would close SRTY long and SQQQ long, that makes some sense because the IWM has been building so SRTY would naturally look a bit worse.

However, as mentioned the SPY didn't look like it was building positive and as you'd expect, but probably not understand, SPXU looks good for at least a short term move higher.

To make it even more confusing, the Index futures look like they are building.

Personally, I'd reduce leverage in those particular trades, perhaps SPXU pops just before the F_O_M_C and then sinks.

I have a number of other items that look as if the market is getting support from other asset groups to make that move higher discussed in the last post or two ago.

I'll let you chew this over with your positions and the next post I'll tell you what other assets are SUPPORTIVE of the market making a move higher near term as in the next move or short (time) trend.