There are a lot of bullish closing daily candle formations among the major averages for the last 2 days (today).
Here are some of the charts, I'm leaving everything as is, as I suspected early today, it would be a day of paying attention, but mostly patience.
DIA 10 min leading positive
IWM 30 min leading positive, small, but there.
QQQ 2 min shows the stop run was accumulated and volume shows stops were hit.
QQQ 5 min with the head fake move as well
SPY positive intraday on the Tweezer bottom
SPY 10 min leading positive
And the 5 min TICK custom indicator.
I don't love areas like this, but we get paid to take risks, and this seems to be a pretty well calculated risk, it doesn't change any of our core positions or analysis.
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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