This has turned ugly quick, a gap fill for the most part and then ugly.
The MSI shows the R3K shorts underperforming...
R3K (green) vs. the R3K Most Shorted Index, no short squeeze.
SPY 1 min intraday at the gap fill, then
There's no strength at all or migration of the divergence, the 3 min chart is still a negative or worse than yesterday.
The Q's with an opening intraday positive that has failed 1 min
And that weakness is migrating to longer charts, 2 min above.
The same with the IWM...
Intraday 1 min was negative all a.m., it seems any strength this morning was sold in to
And the 2 min chart never even had a chance.
I'm going to keep checking on specific assets like PCLN, but others on my watchlist, while trying to make sure there's nothing creeping up in FX or arbitrage.
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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