Time to start paying attention to a simple esoteric indicator... Todays US equity index futures % moves as of this posting, in decending order... NQ: 2.14% YM: 1.30% ES: 1.13% RTY: 0.52% Reminder, NQ is in breakout mode. RTY is in a bear market for 18 months.
Care to elaborate a bit? Are you suggesting you see something due to the way those index % movements are clocking in?
Hes just trying to get us to go long NQ with him so we can all be billionaires faster than we would while buying ES/RTY. Get out of here with that dark magic!!
You can see sentiment shifting. Today, NQ is up 2.26% + YM is up 1.55%. We all know how the main components of those indexes affect the ES. ES is not keeping pace. Sans RTY, ES is low man on the totem! Sentiment towards the overall market is shifting. You can argue it's been that way for a while, a handful of stocks are the only reason for the movement, but it is a false argument, imo. The weakness is now visible. The sentiment is changing. If the NQ components of ES and the YM components of ES are not enough, than what's left? YM is SUBSTANTIALLY far away from a breakout or ATH. ES isn't keeping pace. NQ has broken out. ES is not keeping pace. ES remains several percent from a breakout or ATH, and is significantly lagging.
Thanks for the further details TW. You offer some great write-ups / insights. Super helpful for those like me that are trying to learn.
For more flavor, I point to the MAJOR differences of the indexes as I mentioned in this link... https://www.elitetrader.com/et/threads/es-journal-2019-2020.328086/page-2548#post-5124056 Thank you for the kudos, whether deserved or not. Seldom are compliments in these here hills. Thanks