We broke to a daily depression inwards recent merchandise inwards ES; that low, however, was non confirmed past times the NQ futures or past times the XLP, XLV, in addition to XLK sectors. Note likewise that book did non expand significantly on the break.
When I'm working amongst traders equally they are trading, nosotros are looking non exclusively at what is happening (price change), but likewise at the themes surrounding the activeness (intermarket behavior) in addition to the grade of participation inwards the marketplace moves. It is when participation expands on moves to novel highs or lows--as nosotros saw on describe yesterday--that those moves are simply about probable to exhibit continuation.
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