I monitor a pile of stocks to see whats going on under the hood.
While I have chosen Intel for the example - a lot big names look like this.
We all know that Jackson Hole is Friday - I'm not sure how anyone can think it will bullish meeting.
While the Fed is buying bonds the continues - the reverse repo is actually taking more money out of the system - this is a fact. DM me if you want to more.
Right now volatility is being pushed down making options cheaper - so this is the quiet before the storm.
As you can see in this chart - they are holding up INTC
With SPX at 4500 - whats the upside?
I don't think this is summer doldrums - its a setup, in this case to the downside.
Looking at the /ES there are single prints down around 4455 - this needs to be cleaned up - all this price action 50 points higher is based on a push up on one 5 minute candle.
The /NQ has left a VPOC at 15066 - this will be returned to.
Todays move is with divergence on the YM(DOW) and ES (SPX) - pushing all these stocks up while crushing vol with divergence.
Both the 6J (Yen) and ZB (Bonds) sold off today - those getting long thinking there is negative news - too soon. These have been reset for a move higher.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.