While we had initial jobless claims that quadruple the last highest record (3.2 million), markets are higher on hopes of additional stimulus.
Looking at the one hour chart on the SPX, this three day move higher may be stalling out. While the VI momentum and moving average remains on a higher trajectory, watch out for it to possibly cross in the next few hours, as this break in line may signal a reversal in near term market momentum. RSI appears to be diverging here a bit with price as well.
Stay safe, stay indoors.
Looking at the one hour chart on the SPX, this three day move higher may be stalling out. While the VI momentum and moving average remains on a higher trajectory, watch out for it to possibly cross in the next few hours, as this break in line may signal a reversal in near term market momentum. RSI appears to be diverging here a bit with price as well.
Stay safe, stay indoors.