Last night in the "Week Ahead Post" I told you about the propensity for a divergence that ends on a Friday or any day really (as last Friday we had a strong in line 3C signal), typically picks up the next trading day...
"Most of the market averages and important assets closed Friday almost perfectly in line on 1 min charts, after that is a different story. In a market with less volatility and fewer fundamental events I'd say that the open Monday will continue roughly in line with Friday's close just because of where the 1 min chart closed, it typically forecasts early trade the next trading day so although volatility and fundamental events are becoming more important over weekends to short term trade, I'd expect the market to behave in similar fashion to the way it ended Friday, at least early on shortly after the open."
As it turns out, even with the volatility, it's still working fine.
In any case, the IWM was captured last, it looks the worst by far.
I'm just going to post the charts so I can get to looking at some other important aspects that I need to check as the IWM 3C signals are moving very fast.
DIA 1 min
DIA 2 min
DIA 3 min
IWM 1 min
IWM 2 min
IWM 3 min
QQQ 1 min
QQQ 2 min
QQQ 3 min
SPY 1 min
SPY 2 min
SPY 3 min
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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