Textbook consolidation as we wait for more signals from the FOMC. Fed futures showing no hike in March but two hikes by December, expect another leg up once subsequent meetings start pricing in. Good time to scale in.
treasuries coiling up for another move. momentum on 10y crashing even with feb no-hike odds at 98%. hawkish minutes meeting next month could very well send yields ripping. good watchlist candidate.
why did we test 2100? your short stops were there and citadel punched them the fuck out. reflexive rebound should be over unless we breakout to the upside for whatever reason. this should mark the beginning of the drawn-out, fundamental sell off.
in summation:
- hidden bearish divergence
- MACD rolling over
- bad economic data rolling out slowly but surely...
