The A.M. Update will be out in a few minutes, but the initial parabolic pop in ES/SPX and IWM has very little to no support. There's no 3C support in intraday 3C futures, barely any in TF (Russell 2000 Futures), very little to none ion the 3C averages and none in TICK whatsoever. I believe the opening move in most averages taking out some significant lows was the gas for this early pop, but I suspect it fades soon. The IWM has the best looking chart as far as 3C relative performance, but I didn't say a good looking chart. The rest will be explained in the A.M. Update.
Watch the intraday TICK for the reversal point back down, it has barely made +500 on the move up, ANEMIC!
5 years ago
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