Quote from gmst:
Ammo what does it mean when there is so much divergence between Dow, ES and Nasdaq ? Dow is strongly positive, ES near its LOD, and Nasdaq well broken its LOD.
You have any insights into such days, which might be helpful for trading?
Quote from satchel:
rule of thum 542: Techs lead always (until they don't). The rest are lying. imho.
Quote from gmst:
Thanks satchel, I respect your opinion. Do you have any stats for this, or is it based on your empirical observation.
If this rule of thumb is correct, it means we will see new lows in ES ....correct, but it is holding surprisingly well till now.
Quote from satchel:
the thing is, NQZ told us what we needed to know back when ES was at 59, when the ES buyers were chipping away and oh damn NQZ trying to slip out the back door. Now is already old.
I can see it in the markets today. Now I need to observe markets for few days to identify this relationship.