This is exactly why I don't trust these "V" bases, why I'd much rather see a "W" base.
Since the last update, take a look at the changes in the intraday charts, pretty sharp intraday distribution.
IWM 1 min
QQQ 1 min, VERY SHARP!
SPY 1 min.
Ideally we'd see some sideways drift and some longer timeframe migration which would make for a great short entry. Right now, I'm holding back and looking to see what this is going to do, but that is sharp distribution, how far it goes and how fast will determine if it's tradable and how.
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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