Wednesday, July 30, 2014

Once Again, All Price Strength is Sold

I suspect this may have more to do with F_O_M_C actions, but once again all price strength has been sold, all GDP gains have now been erased.

We had a negative divegrence that was fairly sharp right after GDP is USD/JPY which is what was behind the overnight Index future gains, but there were also negative intraday divergences in to the Index futures and now all post GDP gains are wiped out.

 USD/JPY sharp post GDP negative divegrence and shortly after...

ES was already seeing a negative divegrence, but the post GDP gains didn't last long at all as they have been wiped out...

No comments: