I'm just going to flip templates real quick so I thought I'd just quickly show some of the faster moving divergences today in the 4 major averages.
*Notice the market didn't make a higher high until after 3 p.m., this is just something I notice on op-ex Fridays. My broker would always call around 2 p.m. and ask, "What do you want to do with these" and if I didn't do anything, again between 3 and 3:30.
SPY with a large relative (notice I said large, not long) positive divergence that turned to a leading that is hitting new highs.
QQQ 5 min also with a large relative positive divergence followed as is usually the case by a leading positive that is just at a new high.
IWM 10 min with a nice leading positive, it won't be at a new leading high as it's a longer timeframe, the strength is in the timeframe.
DIA 5 min relative to leading positive to an easy new high.
Quiet markets like this always keep me on my toes, although I suspect not too much will happen before the close, I often equate quiet markets with "The kids in the room next door being a little too quiet", You Know They Are Up To Something!
These markets are easy to let your guard down.
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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