I'm not the only person who has been concerned with the inter-market market situation. Corey over at Afraid to Trade has noted that the stock, oil and treasury markets are rallying, which is a situation that can't hold forever.
On that note, one of my concerns has been the rallying treasury market. However, that situation may be changing:
the IEFs and TLTs are right at short-term support. The technicals for
both are weakening. The respective CMF's are negative and the MACD was
very weak for the rally. In fact, note the MACD for both for the last
six months; it peaked over 5 months ago and has been moving more or less
60 minute QQQ chart is great. It's in a clear uptrend. Over the last
three days we've seen a gap higher, rally and further gap higher today.
daily chart of the QQQs shows an increasing volume inflow (rising A/D
and CMF) and increasing MACD. Prices are not through six month
On the weekly chart, we see prices break through resistance, printing a strong candle.
IWMs have moved through resistance. They printed a strong bar day
before yesterday, but printed spinning top outside of the upper
Bollinger Band, which is usually a sign of an upcoming reversal.
However, we're seeing a rising CMF, A/D and MACD.
The SPYs are still in an uptrend, with a strongly positive CMF and rising A/D. Also note theh rising MACD.
weekly copper chart is very bullish. We've seen strong moves over the
last two weeks on very strong volume. Money is flowing in and momentum
has reversed. This is a great chart.