Well its not so much news... its using these insights as tools to determine the underlying health of the bigger picture. I realize you strictly use T/A, but ultimately fundamentals determine where things are heading.
ES Journal - 2019/2020
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I don't agree. --I say it's perception of fundamentals along with human nature that drives prices. This is reflected in charts and TA.
"The perception of fundamentals drives the price".
This is exactly what I'm saying, and "perception" is derived through analysis of available data. As that changes, its manifested in the charts. Hence perception leads T/A.
I'm referring to nearterm trend is up - since 1/15, Tues when ES broke up out of triangle (2600) tested top of triangle same afternoon..
Also a comment on NQ/ES..noticed NQ almost always leads so NQ divergence is a nice nearterm indicator..while it showed negative divergence yesterday as noted above for the corrective selloff, it's indicating positive diverge from Tues afternoons swing low compared to last night..
And due to that, I don't need to pay attention to news or fundamentals.---Rather, the charts will tell me.
And you'll be the last to know too.
Here we go again on a wedge
not necessarily. I find that technical signals in the correct direction precede news in a lot of instances.
The first order of business today is to get to 2630 and this would lend itself well to helping with the establishment of 2600 as new short term floor and we may be able to get 2585 in our rear view mirror. Of course that 2630 area could also be ripe for reversal so we'll need to look at the type of action there is there. -----Long for now---
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