This is will way early to make any kind of assumptions, but these charts shouldn't look like this. I'll give you several examples, but there are a lot more.
IWM 1 min had the longest divergence, yes this morning it's not confirming the move, but rather starting a slight negative.
There's not much of a divergence there in total, it only goes out about to this 3 min chart, I'd like to see some other charts like 2 min go negative as well before I made a decision to take action.
The Q's with yesterday's small accumulation zone and today a small negative divergence, but they always start small.
The SPY has a larger intraday negative so far this a.m., I'd like to see if it migrates to the 2 min chart.
All Index futures have similar divergences as this 1 min ES/SPX futures
That's not good, it fell real quick.
As I said, VXX is starting to go positive now, this is what I'm looking for to replace yesterday's closed position.
And HYG was there for support yesterday, but today just collapsed.
The TICK is pretty weak as far as intraday breadth goes, barely +1000
I said 3 things about the spot VIX Bollinger Band Squeeze 1) it would be a highly directional breakout, 2) it would likely be to the upside and 3) that price often loiters around the breakout area initially, sometimes even head fakes.
What we are seeing today is that loitering.
This doesn't usually last long, but it is something I told you about 3 or 4 days before we even had a hint of a breakout.
No comments:
Post a Comment