market rallies up to resistance and holds for a few hours, could mean large houses loading up shorts, i cant tell, but the rising down volume line hints at a reversal,or at least a doubt in its continuing up, the dollar pulled back and retested the neckline and is now bouncing,validating the inverted h n s pattern if it holds edit we need to see the uvol/dvol ratio,4/1, decreaseQuote from cipherscribe:
The dollar declined until 11:00am. During this time we have had the bullish run up. Since 11:00am, the Dollar has rebounded and then some, regaining all the losses since EOD yesterday. However the ES and NQ has had the bullish move in step with the dollar decline, yet not declined back anywhere near the same amount as the dollar rebounded.
Is this a setup for a bearish view for the rest of the day on the ES and NQ (and others)?
Edit: Or a bearish view on the dollar.........![]()