Indexes did not move much: SPY up by 0.39% and QQQ down by 0.59% for this week. The divergences remain in place:
1. 52wk lows are on the rice, again. We also had several now 52wk lows. This triggered the Hindenburg omen which is just a fancy way of saying that markets are confused and perhaps near turning point.
2. The nervousness is on the rice. Apple flash crashed 5% on Monday. While indexes are stable, stocks are experiencing larger swings.
Overall, the big picture remains unchanged. The divergences are bearish as they have been for some time. Next big move should be down.
No comments:
Post a Comment