The intraday SPY is more or less in line, the QQQ is leading negative, but more or less close to in line, the IWM is very similar to the Q's.
What is interesting is ES and NQ (SPX and NDX 1 min futures), they both have leading positive divergences, not TF (R2K futures).
If I had to guess on nothing but those charts, I'd say "Knee jerk reaction to the upside", after that however is when things get sorted out and it can be used effectively as a tactical entry.
Just letting you know what I see.
5 years ago
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