Notice that in the last two days, the markets have had a late day sell-off on high volume. This indicates traders are getting nervous about the market, thinking that overnight there will be a news event that will sent the market lower.
On the daily chart, notice there are two series of bars. The first (a), are a series of very strong, upwardly moving bars. The second (b) are smaller, indicating weakening upward pressure and a slackening of demand.
The Treasury market is continuing to sell-off (a) in a big way on high volume (b).
The dollar is still mired near the EMAs, which are also in a tight range. Also note that prices are near key Fibonacci levels.
So -- stocks are still moving higher, but are printing weaker and weaker bars. Bonds are in the middle of a fire sale and the dollar is looking for a direction.
After moving through the key $90/level, prices have retreated to the 10 day EMA. However, notice the very bullish EMA orientation -- all are moving higher, the shorter EMAs are above the longer EMAs and prices are above all the EMAs. However, the MACD is currently moving sideways, indicating momentum is decreasing.
