After the per-market stop run, it looks like most of the averages found their max-pain pin level.
There's a small initial change of character intraday in most of the averages which is where any new divergences will start so it's worth posting and keeping an eye on considering the general IWM set-up I'm looking for with multiple asset confirmation.
DIA intraday looks to be starting to go negative.
The SPY and several other averages as you may remember put in some intraday positives with support from yields on an intraday basis yesterday, however this morning there's not even 1 min confirmation.
The Q's which looked like they may have found their max-pain pin for a bit are also not confirming even on an intraday 1 min basis which should have been able to confirm a couple of minutes in to the day.
The IWM has a small positive intraday as price was very flat in a range intraday...
Here's a closer look, note the flat price range since the open with a 1 min positive divegrence that is break ing it to the upside.
We still have plenty of time, these divergences in the SPY, DIA and QQQ may be the start of a broader divergence building from here that I wouldn't really expect to see until after 2 p.m.
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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